Demand in the local Turkish pre-painted galvanized (PPGI) coil market has remained slack in the past week due to the ongoing political and economic uncertainties in Turkey. Meanwhile, Turkish mills’ domestic PPGI quotations have remained stable week on week. Turkish mills' local prices for RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI are at $950-1,035/mt, while their offers for RAL 9002 0.5 mm are at $800-860/mt and prices for 1 mm RAL 9002 are at $690-775/mt. All the offers in question are on ex-works basis and exclude 18 percent VAT.
Meanwhile, demand for Turkish PPGI in the export markets has also remained sluggish over the past week, with inquiries made by European and US-based buyers in previous weeks failing to result in deals. Buyers in the export markets are in no rush to conclude new bookings of Turkish PPGI, adopting a wait-and-see stance due to the sharp fluctuations in iron ore prices. Turkish PPGI export offers have remained stable week on week in the range of $770-805/mt FOB.