According to market sources, demand in the local Turkish hot dip galvanized (HDG) coil market has continued to be slack over the past week, while the decision of some Turkish producers to reduce their local prices two weeks ago has had no impact on demand. Market sources state that HDG purchases in Turkey's southern regions are livelier than in the Marmara region. Locally produced HDG sales are slower due to an Italian producer's lower offers in the range of €460-470/mt ($534-545/mt) CFR to Turkey's Marmara region, which has been putting downward pressure on local prices.
In the Turkish domestic market, HDG sales prices have remained stable over the past week and are currently as follows:
Product | Price ($/mt) |
HDG 0.50 mm 100gr/m² | 715-755 |
HDG 1 mm 100gr/m² | 665-705 |
HDG 2 mm 100gr/m² | 650-675 |
The above prices, which may differ depending on product quality, are ex-works, exclude VAT, and are for advance payments.
On the other hand, demand for Turkish HDG is still slack in the export markets. However, Turkish HDG exports of lower tonnages to Iraq, Syria, Lebanon, the CIS and eastern Europe have continued over the past week. Meanwhile, ex-Turkey HDG offers have declined by $20/mt on the upper end during the past week to the range of $700-730/mt FOB for shipments in February and March.