Downward expectations prevail in local Turkish HDG market

Thursday, 26 February 2015 16:38:50 (GMT+3)   |   Istanbul
According to market sources, demand for hot dip galvanized (HDG) products in the local Turkish market has remained sluggish over the past week, while demand is down significantly compared to the same period of 2014. In addition, the declines recorded in hot rolled coil (HRC) prices in the global market have continued to put pressure on local HDG prices. As a result, expectations for lower prices have prevailed in the Turkish HDG market, causing Turkish buyers to maintain a cautious stance when it comes to concluding purchases.

In the Turkish domestic market, HDG sales prices have decreased by $10/mt on the lower end over the past week for March productions and are currently as follows:

Product

Price ($/mt)

HDG   0.50 mm  100gr/m²

660-690

HDG   1 mm  100gr/m²

615-635

HDG   2 mm  100gr/m²

590-610

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 exports has also remained sluggish amid political and economic problems in Russia, one of the major export markets for Turkey, along with the downward pressure caused by the attractive HDG offers coming from China. Turkish HDG export offers have declined by $20/mt on the lower end over the past week to the range of $650-690/mt FOB for March production.

Weekly price movements of different steel products in major markets can be viewed comparatively in the SteelOrbis Historical Steel Prices section. Market trends can thus be seen more clearly, while desired charts can be created and used in reports or presentations.   


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