In the past week, demand in the local Turkish pre-painted galvanized (PPGI) coil market failed to see any recovery and is not expected to pick up ahead of the referendum to be held on April 16. Following the rises in local hot rolled coil (HRC) prices, Turkish domestic PPGI prices are also expected to move on an upward trend in the short term, despite the weak demand.
Turkish mills' local prices for RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI are at $940-985/mt, while their offers for RAL 9002 0.5 mm are at $790-810/mt and prices for 1 mm RAL 9002 are at $680-725/mt. All the offers in question are on ex-works basis and exclude 18 percent VAT.
Additionally, demand for Turkish PPGI in the export markets has remained strong, while Turkish producers’ PPGI offer prices for the export markets are likely to move upwards in the short term in line with the increase expected in domestic prices. Currently, Turkish PPGI export quotations stand at $760-780/mt FOB.