Prices in the local Turkish pre-painted galvanized iron (PPGI) market have remained unchanged since last week, while demand has been weak. Ahead of the March 30 municipal elections in Turkey, buyers are only booking small volumes for their immediate requirements, similar to the situation in the domestic market for other flat steel products.
Turkish mills' local offers for RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI are standing at $1,000-1,080/mt, while offers for RAL 9002 0.5 mm are at $860-920 /mt and prices for RAL 9002 1 mm stand at $780-840/mt. All the offers in question are on ex-works basis and exclude 18 percent VAT.
In the meantime, the improvement in the PPGI export market seen last week has been replaced by slack demand. Market sources report that Chinese and Indian PPGI offers given to Turkish producers' main target markets have eroded market price levels and Turkish PPGI offers are found to be on the high side. April production ex-Turkey PPGI offers have remained stable over the week and currently are at $850-920/mt FOB.
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