Turkish hollow section prices trend down, outlook remains depressed

Friday, 26 April 2024 16:08:01 (GMT+3)   |   Istanbul
       

Considering the recent softness in hot rolled coil (HRC) prices and the generally negative outlook in the flats market, Turkish pipe producers have had no choice but to bring down their pricing correspondingly. Moreover, market participants claim that it is difficult to control prices even at these levels because of the ongoing lack of demand in both the local and export markets.

Currently, domestic hollow section prices have decreased this week to $700-750/mt ex-works, down from $750-800/mt ex-works the previous week.

“Unfortunately, demand in the domestic market remains insufficient and a downturn is inevitable. In terms of exports, the situation is almost the same, with demand only in nearby places such as Cyprus, Georgia and Azerbaijan, but even there the amounts are not large,” a market source told SteelOrbis.

On the export side, the situation continues to be sluggish mainly due to the limited customer demand and cheaper alternatives from other global exporters. As a result, the majority of official hollow section offers have been reported at $750-800/mt FOB, a decrease from $780-830/mt FOB the week before. However, according to market sources, offers from larger pipe manufacturers are considerably lower, at approximately $720/mt FOB.


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