During the past week, demand in the local Turkish hot dip galvanized coil (HDG) market has remained slack, while prices have remained stable. Turkish buyers have continued to postpone their bookings and have reduced their inventories due to their financial concerns. Accordingly, Turkish buyers have been giving priority to liquidity management and have decreased their inventories further to increase their available cash. According to market sources, demand for domestic HDG in Turkey is likely to remain slack in the short term.
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 |
705-735 |
- |
|
HDG 1 mm 100gr/m² |
650-705 |
- |
|
HDG 2 mm 100gr/m² |
605-630 |
- |
In the given period, HDG exports from Turkey have continued to be observed. Even though buyers in target markets have asked for price reductions, Turkish coated steel producers have been unwilling to decrease their prices due to their production costs and also since European mills have not reduced their domestic prices. As a result, Turkish HDG offers to the export markets have remained stable week on week at $700-720/mt FOB.