Demand in the local Turkish pre-painted galvanized (PPGI) coil market has continued to be characterized by sluggishness in the past week. With the ongoing decreases in Chinese steel prices since last week, Turkish buyers have adopted a wait-and-see stance, and so Turkish hot rolled coil (HRC) producers have maintained their prices unchanged this week. Accordingly, expectations of a downtrend regarding domestic PPGI prices have strengthened among market players, against the backdrop of the ongoing sideways trend of HRC prices - the raw material for PPGI production. In this context, prices in the local Turkish PPGI market have declined by $40/mt on the upper end week on 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.
Meanwhile, Turkish PPGI export prices have remained stable in the range of $790-810/mt FOB over the past week amid slack demand in the export markets, resulting from the downtrend of Chinese steel offers.