Over the past week, demand in the local Turkish hot dip galvanized (HDG) coil market has remained weak as buyers continued to postpone their bookings due to the approach of Ramadan, the snap election to be held in Turkey and the ongoing declines in global flat steel prices. Meanwhile, Turkish producers’ HDG prices have decreased by $10/mt on the upper end week on week. Market sources state that Turkish buyers continue to exert pressure on prices and demand is being negatively impacted by the depreciation of Turkish lira against the US dollar and the euro.
Accordingly, domestic producers’ HDG prices in the local Turkish market, excluding 18 percent VAT, are at the following levels:
|
Product |
Price ($/mt) |
Weekly change ($/mt) |
HDG 0.50 mm 100gr/m² |
770-790 |
↓10 (on the upper end) |
HDG 1 mm 100gr/m² |
710-755 |
↓10 (on the upper end) |
HDG 2 mm 100gr/m² |
665-680 |
↓10 (on the upper end) |
Meanwhile, Turkish mills’ HDG export quotations have also declined by $10/mt on the upper end week on week, to $775-785/mt FOB.