Domestic hot dip galvanized (HDG) prices have increased by $45-50/mt over the past week in Turkey, following the rapid uptrend in the feedstock segment. As the indicative offers for the hot rolled coil in the local market have hit $500/mt ex-works, re-rollers in Turkey have followed the uptrend. A lot of them, however, have preferred to hold back offers, trying to see the market situation more clearly.
Coming towards the end of the week, domestic HDG base prices are mainly set within $670-685/mt ex-works for February deliveries. While some rare sellers have been ready to provide $5/mt discounts, some producers have been voicing $690-700/mt ex-works base in their domestic offers. In the meantime, domestic PPGI base prices are currently ranging within $750-775/mt ex-works, up $45-50/mt over the past week, SteelOrbis has learned.
Market players note that there is a lot of confusion and speculation in the coated steel segment these days and that prices are expected to gain more clarity next week. “You cannot increase prices by $50/mt for galvanized and expect people to buy at the offered prices right away,” a local trader said. In the meantime, it is reported that HDG availability in the market is limited. In particular, some producers have been offering 30-day delivery instead of the usual two weeks, SteelOrbis has learned.