Demand in the local Turkish hot dip galvanized (HDG) market has remained slack in the past week as buyers have been postponing their HDG purchases and are maintaining a wait-and-see stance due to strong expectations of a decline in local HDG prices. Turkish steel producers have kept their hot rolled coil (HRC) quotations unchanged and, since HRC is used as raw material in HDG production, Turkish HDG producers have also maintained their quotations unchanged. On the other hand, market players state that occasional discounts of $30-40/mt are available in the market as a result of the forecast downward movement of local HDG prices.
Domestic producers' HDG prices in the local Turkish market are currently as follows:
Product | Price ($/mt) | Change ($/mt) |
HDG 0.50 mm 100gr/m² | 700-760 | ↔ |
HDG 1 mm 100gr/m² | 640-680 | ↔ |
HDG 2 mm 100gr/m² | 610-645 | ↔ |
The above prices, which may differ depending on product quality, are ex-works, exclude VAT, and are for advance payments.
Meanwhile, Turkish producers' HDG export prices have remained unchanged at $700-720/mt FOB during the past week. However, overseas buyers still consider this price range to be on the high side, causing demand to remain weak. Market sources state that both buyers and Turkish HDG producers prefer to wait and see, causing Turkish HDG export quotations to remain stable week on week.