Over the past week, prices in the local Turkish hot dip galvanized coil (HDG) market have continued their upward movement and increased by $50/mt week on week. Due to the weak demand for flat steel in the global market and the strong belief that prices have reached peak levels, buyers have postponed their bookings. Market players think that domestic HDG demand in Turkey is unlikely to recover and the sharp price rises will likely come to an end in the short term.
|
Product |
Price ($/mt) |
Weekly change ($/mt) |
|
HDG 0.50 mm 100gr/m² |
735-765 |
↑50 |
|
HDG 1 mm 100gr/m² |
680-735 |
↑50 |
|
HDG 2 mm 100gr/m² |
640-660 |
↑50 |
In the same period, Turkish mills’ HDG export prices have moved up by $50/mt week on week to $730-750/mt FOB.