According to market sources, the previous increases seen in demand for hot dip galvanized (HDG) products in the local Turkish market have once again been replaced by a slowdown of demand during the past week. Market sources state that HDG buyers have been postponing their purchases amid political uncertainty in Turkey and also due to the sharp strengthening of the US dollar and the euro against the Turkish lira. Moreover, Turkish producers are offering discounts of $10/mt and higher, depending on the customer and the volume.
In the Turkish domestic market, HDG sales prices have remained stable over the past week for September production and are currently as follows:
Product | Price ($/mt) |
HDG 0.50 mm 100gr/m² | 610-650 |
HDG 1 mm 100gr/m² | 570-590 |
HDG 2 mm 100gr/m² | 550-560 |
The above prices, which may differ depending on product quality, are ex-works, exclude VAT, and are for advance payments.
Meanwhile, demand for Turkish HDG in the foreign markets is currently weak. Turkish producers' HDG offers to the export markets have also remained unchanged over the past week at $600-650/mt FOB, for September production. Market players state that after the increases seen in inquiries last week the market has once again become quiet, while Turkish producers are offering discounts of $10/mt and higher, depending on the customer and the volume