According to market sources, demand for Turkish hot dip galvanized (HDG) coil both in the local and in the export markets has been weaker compared to last week. Market sources believe that demand has failed to improve due to the decreases in local hot rolled coil (HRC) prices which have negatively impacted the Turkish HDG market. Additionally, Turkish buyers are unwilling to build up their stocks ahead of the New Year.
In the Turkish domestic market, HDG sales prices have remained unchanged over the past week and are currently as follows:
Product | Price ($/mt) |
HDG 0.50 mm 100gr/m² | 755-790 |
HDG 1 mm 100gr/m² | 705-740 |
HDG 2 mm 100gr/m² | 690-710 |
The above prices, which may differ depending on product quality, are ex-works, exclude VAT, are for advance payments and are for shipments in January.
On the other hand, ex-Turkey HDG offers have decreased by $30/mt over the past week to the range of $735-760/mt FOB for shipments in January. Meanwhile, in their counter-offers Turkish buyers continue to seek price reductions. In particular, it is heard that $5-10/mt reductions in prices are available for Turkish buyers seeking large volumes.