Over the past week, demand for pre-painted galvanized (PPGI) coil in the local Turkish market remained weak, while domestic Turkish PPGI prices maintained their stable trend. Ahead of the referendum to be held on April 16, both buyers and sellers have adopted a wait-and-see stance, resulting in the slowing down of trading activities.
Turkish mills' local prices have remained unchanged compared to the previous week, with RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI standing at $950-1,005/mt, RAL 9002 0.5 mm at $800-830/mt and prices for 1 mm RAL 9002 at $690-745/mt. All the offers in question are on ex-works basis and exclude 18 percent VAT.
On the other hand, PPGI demand from the EU has slowed down, contributing to the sluggishness of demand for Turkish PPGI exports. Last week, market participants heard that the European Commission decided not to apply provisional antidumping duties on hot rolled coil (HRC) imports from five countries and so HRC prices in the EU decreased. The lower HRC prices are expected to be reflected in reduced prices for other flat steel products, while European buyers are aiming for lower prices for their Turkish PPGI purchases in the short term. Currently, Turkish mills’ PPGI export quotations are at $790-840/mt FOB, remaining stable week on week.