During the past week, demand in the local Turkish hot dip galvanized coil (HDG) market has remained at low levels, while prices have moved down. It is observed that Turkish buyers have continued to conclude deals only in line with their needs, while domestic HDG prices have moved down during the negotiations. Market sources do not expect a revival in demand in the short term. Meanwhile, Turkish coated coil producers are unwilling to reduce their offers further as they believe domestic HDG prices in Turkey have hit bottom.
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 |
695-725 |
↓10 |
|
HDG 1 mm 100gr/m² |
640-695 |
↓10 |
|
HDG 2 mm 100gr/m² |
600-620 |
↓7.5 |
In the given period, Turkish mills’ HDG export sales have continued. During the negotiations, Turkish HDG offers to the export markets have also decreased by $10/mt week on week to $690-710/mt FOB.