Over the past week, prices in the local Turkish hot dip galvanized coil (HDG) market have remained stable due to the ongoing weakness of demand. Meanwhile, it is also observed that buyers are monitoring the global flat steel market while they postpone their purchases in expectation of a decrease in prices. Market sources state that Turkish mills are unwilling to reduce their domestic PPGI prices due to the supply tightness caused by their fairly full order books and also because of one coated steel mill’s decision to cut its capacity utilization while starting to operate within the scope of the reduced working time compensation scheme of the Turkish Employment Agency (ISKUR), which allows firms to send workers on leave with some compensation in times of economic, sectoral or regional crisis. Market players expect demand in the Turkish HDG market to remain at low levels in the short term as Turkish mills monitor the global flat steel market, but they do not foresee a serious fall in domestic HDG prices.
|
Product |
Price ($/mt) |
Weekly change ($/mt) |
|
HDG 0.50 mm 100gr/m² |
735-765 |
0 |
|
HDG 1 mm 100gr/m² |
680-735 |
0 |
|
HDG 2 mm 100gr/m² |
640-660 |
0 |
In the same period, Turkish mills’ HDG export prices have remained stable week on week to $730-750/mt FOB.