During the past week, demand in the local Turkish hot dip galvanized coil (HDG) market has continued to be weak. Turkish buyers continued to postpone their bookings and to exert pressure on prices due to the negative economic outlook in the country, approach of the new year and the downwards movement of HRC prices in the global market. Market sources state that Turkish buyers are expected to continue making HDG purchases only to meet their immediate needs and no recovery expected in demand before 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 |
↓10 |
|
HDG 1 mm 100gr/m² |
625-680 |
↓10 |
|
HDG 2 mm 100gr/m² |
585-605 |
↓10 |
In the given period, demand for Turkish HDG in international markets has slowed down due to the approach of the new year and ex-Turkey HDG prices have decreased by $10/mt to $675-695/mt FOB.