Turkish hollow section prices stable despite slow trade

Friday, 10 May 2024 16:36:28 (GMT+3)   |   Istanbul
       

Turkish hollow section producers have chosen to keep their offer prices stable week on week even though end-user demand continues to be low and negative sentiment prevails in the hot rolled coil (HRC) market. According to market participants, the market is not exhibiting any signs of recovery, which will eventually lead to lower pipe prices.

As of the end of the current week, workable domestic hollow section prices have remained stable week on week at $700-750/mt ex-works.

“Everyone is now struggling financially and in terms of demand, but even price reductions do not entice people to buy, so we are attempting to remain stable,” a market source told SteelOrbis.

 On the other hand, in the export market, most traders are offering at around $750-800/mt FOB, which is the same as in the previous week. Meanwhile, according to reports, some pipe producers who are trying to boost their sales are offering at around $700-730/mt FOB. 


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