Over the past week, demand in the local Turkish hot dip galvanized coil (HDG) market has remained slack, while prices have decreased by $20/mt as a result of weak demand and buyers’ downward pressure on prices. According to market sources, buyers are likely to continue to postpone their bookings due to the local elections in Turkey to be held on March 31 and are expected to continue to monitor flat steel prices in the global market. As a result, no significant recovery expected in terms of domestic HDG demand in Turkey in the short term.
|
Product |
Price ($/mt) |
Weekly change ($/mt) |
|
HDG 0.50 mm 100gr/m² |
715-745 |
↓20 |
|
HDG 1 mm 100gr/m² |
660-715 |
↓20 |
|
HDG 2 mm 100gr/m² |
620-640 |
↓20 |
In the same period, Turkish mills’ HDG export prices have declined by $20/mt week on week to $710-730/mt FOB.