Buyers in the local Turkish hot dip galvanized (HDG) market have postponed their purchases, preferring to maintain a wait-and-see approach over the past week due to the significant loss of strength of the Turkish lira against the US dollar following the coup attempt on July 15. As a result, demand in the local Turkish HDG market has remained at low levels in the same period.
Although the volume of price inquiries in the local Turkish HDG market has declined and trading activity has slowed down during the past week, Turkish steel producers have kept their domestic HDG prices stable.
Domestic producers' HDG prices in the local Turkish market are currently as follows:
Product | Price ($/mt) | Change ($/mt) |
HDG 0.50 mm 100gr/m² | 550-590 | 0 |
HDG 1 mm 100gr/m² | 490-520 | 0 |
HDG 2 mm 100gr/m² | 460-485 | 0 |
The above prices, which may differ depending on product quality, are ex-works, exclude VAT, and are for advance payments.
On the other hand, market sources state that buyers in the export markets are currently cautious about concluding purchases of Turkish HDG, while Turkish producers' HDG export prices have moved sideways week on week at $590-600/mt FOB.