Demand in the local Turkish pre-painted galvanized (PPGI) coil market has continued to be characterized by sluggishness in the past week, since Turkish buyers have adopted a wait-and-see stance amid expectations of price declines in the global markets. Since the prices of import hot rolled coil (HRC) - the raw material for PPGI production - in Turkey have indicated just slight decreases instead of the sharp declines which had been expected, and with import HRC volumes in Turkey being limited, Turkish HRC producers have been unwilling to decrease their prices this week. Accordingly, Turkish PPGI producers have also maintained their prices unchanged during the past week. Accordingly, Turkish mills' local prices for RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI are at $930-1,015/mt, while their offers for RAL 9002 0.5 mm are at $800-860/mt and prices for 1 mm RAL 9002 are at $680-765/mt. All the offers in question are on ex-works basis, exclude 18 percent VAT. However, market players state that discounts of $30-40/mt are available in the market depending on buyers and tonnages.
Meanwhile, Turkish PPGI export prices have also remained stable over the past week, still in the range of $790-860/mt FOB, amid slack demand in the export markets with buyers adopting a wait-and-see stance, though Turkish PPGI exporters are offering discounts of $30-40/mt depending on buyers and tonnages.