Over the past week, demand in the local Turkish hot dip galvanized coil (HDG) market has remained slack, while producers’ prices have decreased by $15/mt week on week. Market sources state that buyers are making purchases only to meet their immediate needs and demand is not expected recover in the coming period due to the ongoing depreciations of Turkish lira against the US dollar, US President Trump’s decision to double the duties on Turkish steel imports, traditionally stagnancy during the summer season and approach of the Feast of Sacrifice.
Accordingly, domestic producers’ HDG prices in the local Turkish market, excluding 18 percent VAT, are at the following levels:
|
Product |
Price ($/mt) |
Weekly change ($/mt) |
|
HDG 0.50 mm 100gr/m² |
725-755 |
↓15 |
|
HDG 1 mm 100gr/m² |
665-720 |
↓15 |
|
HDG 2 mm 100gr/m² |
620-645 |
↓15 |
Additionally, Turkish mills’ HDG export quotations have also decreased by $15/mt week on week to $720-740/mt FOB.