Turkish hollow section prices still stable amid bleak outlook

Friday, 24 May 2024 15:20:52 (GMT+3)   |   Istanbul
       

Despite the lack of demand in the domestic market and Turkey’s poor economic conditions, local pipe producers have kept their prices unchanged this week. Meanwhile, a few pipe makers have provided discounts for the export market, but sources state that, apart from their normal clients, not much demand has been generated. Furthermore, given the gloomy mood and the anticipation of a softening in the hot rolled coil (HRC) segment, Turkish pipe producers foresee a downward movement in the hollow section market in the coming weeks.

Currently, prices in the local hollow section (HS) market are at $700-750/mt ex-works, in line with prices at the end of last week.

In the export market, HS prices are at about $750-800/mt FOB, which is the same as in the previous week. However, according to sources, some producers aim to provide discounts and attract the attention of buyers, and, while smaller and medium-sized producers are offering at approximately $720-740/mt FOB, larger pipe makers are offering at $690-700/mt FOB.


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