Over the past week, demand in the local Turkish hot dip galvanized coil (HDG) market has remained weak. Buyers have continued to make bookings only to meet their urgent needs, while continuing to exert pressure on prices. However, Turkish mills are unwilling to decrease their prices due to the strong belief that demand for domestic coated steel in Turkey will not recover before the year-end even if prices decrease. Demand for domestic HDG in Turkey is expected to remain slack in the short term, though producer’ prices are unlikely to indicate sharp declines before the year-end.
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 |
680-710 |
0 |
|
HDG 1 mm 100gr/m² |
625-680 |
0 |
|
HDG 2 mm 100gr/m² |
585-605 |
0 |
It is observed that demand for Turkish HDG in the export markets has continued to be characterized by weakness due to the approach of the year-end and the holiday season, while ex-Turkey HDG prices have remained stable week on week at $675-695/mt FOB.