Local Turkish hollow section prices rise as market remains firm

Friday, 12 January 2024 17:17:47 (GMT+3)   |   Istanbul
       

Even though domestic trade has remained unsatisfactory, Turkish pipe manufacturers have chosen to raise their offer prices on the back of the increases observed in the spot market this week due to the ongoing stability in the hot rolled coil market and the improvement in the scrap markets. Most Turkish pipe producers have decided to maintain their export offers, which are now at levels equivalent to domestic market offers, but export trade is rather slow compared to the domestic market and so there is no possibility of increasing prices under current conditions.

“We chose to increase pricing locally since market circumstances remained stable and prices do not look to be declining in the foreseeable future. At this moment, our export and domestic offers are the same, but, while domestic trade is somewhat better, the export market is extremely slow. We are selling to the nearest countries, but in very small volumes,” a representative of a medium-sized pipe maker told SteelOrbis.

As a result, domestic hollow section prices have climbed to $800-850/mt ex-works, up from $770-850/mt ex-works two weeks ago. Nonetheless, certain pipe makers, according to sources, are offering lower than the market pricing at around $780-790/mt ex-works, to promote sales and attract purchasers. In the meantime, export prices have remained stable compared to previous weeks at $800-850/mt FOB, with the outlook on the bleak side.


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