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Turkey’s domestic and export hollow section prices rise further

Friday, 01 December 2023 17:16:13 (GMT+3)   |   Istanbul
       

Hollow section prices in Turkey’s domestic and export markets have risen further in the last two weeks, with end-user demand stabilizing at supportive levels. Furthermore, with the ongoing improvement in the hot rolled coil (HRC) and scrap markets, the overall expectations of pipe producers have remained positive, with many expecting prices to remain stable or to increase before the new year. However, given Turkey's continuing difficult economic circumstances and the anticipated rise in costs in the coming year, worries about the outlook for the future continue to exist.

Domestic hollow section prices have climbed to $750-800/mt ex-works, up from $730-760/mt ex-works two weeks ago. Nonetheless, certain aggressive pipe makers, according to sources, continue to offer lower than the market pricing at around $730-740/mt ex-works, to promote sales and attract purchasers.

Similarly, export prices have increased to $750-800/mt FOB from $740-770/mt FOB in recent weeks. However, according to sources, demand overseas has remained low compared to the local market, despite suppliers' willingness to give discounts to attract consumers. Meanwhile, according to reports, the most recent offer from the large domestic mill stood at $720-740/mt FOB, up from about $690/mt FOB in recent weeks.


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