According to market sources, demand in the local Turkish hot dip galvanized (HDG) coil market has continued to be slack over the past week. With hot rolled coil prices (HRC) decreasing in the local and global markets, sentiment in the flat steel markets has been strained, impacting on the local Turkish HDG market negatively. Buyers in the Turkish market are reluctant to conclude new transactions with the thought that local prices may decline further and so they prefer to wait for a clearer trend. Market sources also state that demand in the local Turkish HDG market will be shaped according to ex-CIS HDG offers to Turkey.
In the Turkish domestic market, HDG sales prices have declined by $25/mt over the past week and are currently as follows:
Product |
Price ($/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.
Meanwhile, ex-Turkey HDG offers have remained stable over the past week at the range of $700-750/mt FOB for shipments in February and March.