According to market sources, demand for hot dip galvanized (HDG) products in the local Turkish market has increased as compared to last week but is still on the low side. The approaching general election to be held on June 7 has caused uncertainty in the market, though the improvement of demand in the local Turkish HDG market is expected to gain momentum when this uncertainty comes to an end after the election.
In the Turkish domestic market, HDG sales prices have remained unchanged during the past week for June production and are currently as follows:
Product | Price ($/mt) |
HDG 0.50 mm 100gr/m² | 610-660 |
HDG 1 mm 100gr/m² | 570-600 |
HDG 2 mm 100gr/m² | 550-570 |
The above prices, which may differ depending on product quality, are ex-works, exclude VAT, and are for advance payments.
Meanwhile, demand for Turkish HDG in the foreign markets is still at medium levels, while Turkish producers' HDG offers to the export markets have remained unchanged week on week in the range of $600-660 mt FOB for June production. Also, in Morocco, where Turkish exporters have been concluded HDG sales over the last six months, the final result of the safeguard investigation initiated on June 15 last year regarding imports of cold rolled sheets and plated or coated sheet has been announced. A safeguard duty will be effective for imports from most countries, including Turkey, with duty rates at 22 percent up to the end of 2015, at 20 percent for 2016, 18 percent for 2017 and 16 percent for 2018.