Demand declines in local Turkish PPGI market due to approaching holiday

Tuesday, 07 July 2015 16:36:19 (GMT+3)   |   Istanbul
       

According to market sources, demand in the local pre-painted galvanized (PPGI) coil market in Turkey has declined significantly this week due to approach of the end-of-Ramadan holiday and is currently at weak levels. At present, Turkish mills' local prices for RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI are at $835-860/mt, while their offers for RAL 9002 0.5 mm are at $720-755/mt and prices for 1 mm RAL 9002 are at $655-690/mt, all moving sideways compared to last week. All the offers in question are on ex-works basis, exclude 18 percent VAT, and are for August production.
 
Meanwhile, demand for Turkish PPGI in the export markets is still weak, while Turkish PPGI export offer prices have remained stable week on week at $710-760/mt FOB, for August production. Market players state that overseas buyers' inquiries for Turkish PPGI have declined during the past week, though they expect demand from North Africa and the Middle East to rise after Ramadan.


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