Over the past week, demand in the local Turkish hot dip galvanized (HDG) coil market has remained weak due to the approaching end-of-Ramadan holiday and the snap election to be held on June 24. Market sources state that buyers continue to postpone their bookings and that domestic HDG demand in Turkey is not expected to recover in the short term against the backdrop of the summer holiday period.
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 |
740-770 |
0 |
|
HDG 1 mm 100gr/m² |
680-735 |
0 |
|
HDG 2 mm 100gr/m² |
635-660 |
0 |
Meanwhile, Turkish mills’ HDG export quotations have also moved sideways week on week, at $745-765/mt FOB.