Over the past week, demand in the local Turkish hot dip galvanized coil (HDG) market has remained weak. Buyers have continued to make bookings only to meet their urgent needs, while continuing to exert pressure on prices due to the ongoing economic situation in Turkey and the approach of the new year. However, Turkish mills have been unwilling to decrease their prices, especially since flat steel prices in the global market have switched to a sideways trend this week. Although demand for domestic HDG in Turkey is expected to remain slack in the short term, producers’ HDG prices for the domestic market are unlikely to decrease sharply due to the strong market expectations that global flat steel prices will continue to move sideways until the new year.
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 |
680-710 |
0 |
HDG 1 mm 100gr/m² |
625-680 |
0 |
HDG 2 mm 100gr/m² |
585-605 |
0 |
It is observed that demand for Turkish HDG in the export markets has continued to be characterized by weakness due to the approach of the year-end and the holiday season, while ex-Turkey HDG prices have remained stable week on week at $675-695/mt FOB.