Over the past week, demand in the local Turkish hot dip galvanized (HDG) coil market has remained weak. Despite the weakness of demand, it is observed that a Turkish steel mill has slightly increased its domestic HDG prices, justifying this move by stating that its prices were significantly lower than other producers’ domestic HDG offers and also by citing current productions costs. As a result, domestic HDG quotations in Turkey have increased by $10/mt on the lower end week on week.
Accordingly, domestic producers’ HDG prices in the local Turkish market, excluding 18 percent VAT, have started to range at the following levels:
Product |
Price ($/mt) |
Weekly change ($/mt) |
HDG 0.50 mm 100gr/m² |
700-730 |
+5 |
HDG 1 mm 100gr/m² |
655-680 |
+5 |
HDG 2 mm 100gr/m² |
620-635 |
+5 |
Meanwhile, Turkish mills’ HDG export quotations have also increased by $10/mt on the lower end over the past week to $690-720/mt FOB.