During the past week, demand in the local Turkish hot dip galvanized (HDG) coil market has remained at low levels, while domestic HDG prices have increased further. Turkish coated coil producers' production costs have increased following the rises recorded in domestic hot rolled coil (HRC) prices last week. As a result of higher costs as well as their accelerated export sales, Turkish coated coil producers have increased their HDG quotations over the past week.
Although demand is not expected to indicate any revival before the referendum to be held on April 16, Turkish coated coil producers are not expected to reduce their domestic HDG prices since their export sales are at high levels. In the contrary, Turkish HDG mills are expected to increase their prices further in the coming days if the upward movement of HRC quotations continues.
Domestic producers' HDG prices in the local Turkish market are currently as follows:
Product | Price ($/mt) | Change ($/mt) |
HDG 0.50 mm 100gr/m² | 760-780 | +10 |
HDG 1 mm 100gr/m² | 715-730 | +10 |
HDG 2 mm 100gr/m² | 680-685 | +10 |
Meanwhile, Turkish producers' HDG offers to the export markets have increased by $10/mt week on week to $750-770/mt FOB.