Over the past week, demand in the local Turkish hot dip galvanized (HDG) coil market has continued to be characterized by sluggishness, while producers’ prices have maintained their downward movement. Market sources state that Turkish buyers still prefer to postpone their bookings due to the approach of Ramadan, the snap election to be held on June 24 and due to their expectations that prices will continue to decline in the coming period.
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 |
770-800 |
↓10 |
|
HDG 1 mm 100gr/m² |
710-765 |
↓10 |
|
HDG 2 mm 100gr/m² |
665-690 |
↓10 |
Meanwhile, Turkish mills’ HDG export quotations have also declined by $10/mt week on week, to $775-795/mt FOB.