During the past week, demand in the local Turkish hot dip galvanized (HDG) market has been at low levels, while domestic HDG prices in Turkey have declined by $10/mt on the upper end week on week. Market sources state that Turkish coated steel producers have reduced their domestic offers due to the downward pressure exerted by local buyers, while demand has not yet improved despite the fall in domestic HDG prices.
Accordingly, domestic producers’ HDG prices in the local Turkish market, excluding 18 percent VAT, are at the following levels:
Product |
Price ($/mt) |
Weekly change ($/mt) |
HDG 0.50 mm 100gr/m² |
780-790 |
-10 (upper end) |
HDG 1 mm 100gr/m² |
720-755 |
-10 (upper end) |
HDG 2 mm 100gr/m² |
675-680 |
-10 (upper end) |
Meanwhile, demand for Turkish HDG in the international markets is stronger than in the local Turkish HDG market, causing Turkish mills’ HDG export quotations to move sideways week on week at $760-790/mt FOB.