During the past week, demand in the local Turkish hot dip galvanized coil (HDG) market has continued to be slack, while prices have remained unchanged. Although HDG purchases in Turkey had last week accelerated slightly with the Turkish lira appreciating against the US dollar following the Turkish Central Bank’s decision to increase interest rates, the recovery was short-lived since the Turkish lira once again started to lose strength against the US dollar in subsequent days. Market sources report that buyers are worried about the state of the Turkish economy and are expected to continue postponing their HDG purchases in the short term.
|
Product |
Price ($/mt) |
Weekly change ($/mt) |
|
HDG 0.50 mm 100gr/m² |
720-750 |
- |
|
HDG 1 mm 100gr/m² |
660-715 |
- |
|
HDG 2 mm 100gr/m² |
615-640 |
- |
In the given period, demand has continued to be observed for Turkish HDG in the export markets, but buyers have exerted pressure on prices. Turkish mills’ HDG export quotations have also remained stable week on week and are still at $715-735/mt FOB.