Demand in the local Turkish pre-painted galvanized iron (PPGI) market is still weak, while local prices have remained unchanged over the past week. However, market players think that demand and prices in the PPGI market may increase in the coming days since the US dollar has weakened against the Turkish lira and as hot rolled coil (HRC) prices have moved upwards.
Turkish mills' local offers for RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI are standing at $1,000-1,080/mt, while offers for RAL 9002 0.5 mm are at $860-920/mt and prices for RAL 9002 1 mm stand at $780-840/mt. All the offers in question are on ex-works basis and exclude 18 percent VAT.
In the meantime, April production ex-Turkey PPGI offers are still at $850-920/mt FOB, indicating no changes since last week. However, there is still pressure on Turkey's PPGI export offers. Demand is on the low side in the export markets, while attractive Chinese and Indian HDG offers to Turkey's target export destinations have continued to erode price levels in the destinations in question and Turkish offers are considered to be on the high side.
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