Purchases in the local Turkish hot dip galvanized (HDG) coil market have revived slightly during the past week, though demand is still at low levels. Market sources state that buyers are limiting their purchases with the expectation of a further decline in flat and coated steel prices amid ongoing downward pressure on the market.
Domestic producers' HDG prices in the local Turkish market are currently as follows:
Product | Price ($/mt) | Weekly Change ($/mt) |
HDG 0.50 mm 100gr/m² | 700-750 | 0 |
HDG 1 mm 100gr/m² | 665-690 | 0 |
HDG 2 mm 100gr/m² | 630-645 | 0 |
Demand for Turkish HDG in the export markets has also remained weak over the past week amid the continuing downward pressure exerted on the global flat and coated steel market and also due to the declines seen in iron ore prices last week. Meanwhile, Turkish producers' HDG offers to the export markets have remained stable week on week at $700-730/mt FOB.