Over the past week, demand in the Turkish hot dip galvanized (HDG) coil market has remained weak, while buyers have continued to put pressure on prices due to the ongoing economic and political uncertainty in Turkey. However, producers have not responded to this pressure due to the rapid improvement in demand for Turkish HDG from the US and the EU.
Domestic producers' HDG prices in the local Turkish market are currently as follows:
Product |
Price ($/mt) |
Change ($/mt) |
HDG 0.50 mm 100gr/m² |
680-710 |
- |
HDG 1 mm 100gr/m² |
635-655 |
- |
HDG 2 mm 100gr/m² |
600-615 |
- |
Meanwhile, the strengthening of demand from export markets has boosted the export orders received by Turkish mills. As a result, competition in the domestic HDG market eased and discounts on list prices mostly came to an end. Market sources indicate that Turkish HDG producers are likely to increase their prices if export demand maintains its momentum. Turkish producers' offer prices for the export markets have stayed in the range of $660-690/mt FOB in the past week.