Ahead of the referendum to be held on April 16, demand in the local Turkish hot dip galvanized (HDG) coil market has remained weak, while prices have followed a stable trend in the past week. Both buyers and sellers have adopted a wait-and-see stance, resulting in the slowing down of trading activities.
Domestic producers’ HDG prices in the local Turkish market are currently as follows:
| Product | Price ($/mt) | Change ($/mt) |
| HDG 0.50 mm 100gr/m² | 720-770 | - |
| HDG 1 mm 100gr/m² | 685-710 | - |
| HDG 2 mm 100gr/m² | 650-665 | - |
On the export side, demand for Turkish HDG has continued to be sluggish due to weaker demand coming from the European market. Last week, market participants heard that the European Commission decided not to apply provisional antidumping duties on hot rolled coil (HRC) imports from five countries and so HRC prices in the EU decreased. The lower HRC prices are expected to be reflected in reduced prices for other flat steel products, while European buyers are aiming for lower prices from Turkish HDG suppliers in the short term. Meanwhile, Turkish producers’ HDG offers to the export markets have remained unchanged during the past week at $720-750/mt FOB.