Over the past two weeks, hollow section prices have remained stable in Turkey despite negative factors which include softening hot rolled coil (HRC) and scrap prices, slower trade, and economic challenges in Turkey. Although the market is heading down, pipe makers are trying to avoid giving big discounts, given that no significant additional declines have been witnessed in the hot rolled coil market. Some sources believe prices have already reached their lowest point and should remain there until the end of the year.
“HRC prices are softening somewhat, and the scrap market is exhibiting some decreases, but we are keeping pipe prices stable and observing the market because there is currently not much room for further cuts. However, for serious purchasers of large tonnages, we provide some discounts.” a pipe maker told SteelOrbis
Most mills in the domestic market are offering hollow sections at around $630-650/mt ex-works, which is the same as last week's pricing. Hollow section prices in the export segment, on the other hand, are at approximately $640-650/mt FOB, which is the same as in previous weeks.