It is observed that demand in the local Turkish hot dip galvanized coil (HDG) market has increased further over the past week. Turkish buyers have accelerated their coated steel purchases amid their stronger expectations of a rise in prices given the ongoing uptrend of global raw material and flat steel prices. On the other hand, some Turkish coated steel producers have closed their sales since their hot rolled coil (HRC) inventories, used as feedstock, are at low levels.
Domestic HDG prices in Turkey have continued their upward movement over the past week amid higher demand and lower supply. Market sources state that, with most buyers completing their restocking activities, demand is expected to decrease slightly in the short term. However, no price decline is foreseen due to the strength of global raw material and flat steel quotations.
Meanwhile, Turkish producers have kept their domestic HDG prices stable week on week.
|
Product |
Price ($/mt) |
Weekly change ($/mt) |
|
HDG 0.50 mm 100gr/m² |
655-685 |
↑10 |
|
HDG 1 mm 100gr/m² |
600-655 |
↑10 |
|
HDG 2 mm 100gr/m² |
560-580 |
↑10 |
In the same period, Turkish mills’ HDG export prices have moved up by $10/mt week on week to $650-670/mt FOB.