Demand in the local Turkish pre-painted galvanized (PPGI) coil market has continued to be slack during the past week, since Turkish buyers have postponed their bookings amid the ongoing expectations of price declines in the flat steel market. Since the prices of import hot rolled coil (HRC) - the raw material for PPGI production - in Turkey have continued to decline since last week, Turkish HRC producers have reduced their prices by $50/mt on average this week. Accordingly, Turkish mills' local prices for RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI are at $810-905/mt, while their offers for RAL 9002 0.5 mm are at $680-750/mt and prices for 1 mm RAL 9002 are at $560-655/mt. All the offers in question are on ex-works basis, exclude 18 percent VAT.
Meanwhile, Turkish PPGI export prices have decreased by $35/mt over the past two weeks to the range of $760-770/mt FOB, amid slack demand in the export markets and due to the ongoing stagnancy in the global steel markets.