According to market sources, during the past week demand in the Turkish domestic pre-painted galvanized iron (PPGI) market continued to be characterized by weakness, while the decision of some Turkish producers to reduce their local prices two weeks ago has had no impact on demand. Market players believe that Turkish buyers will continue to postpone their purchases in expectation of further price declines due to the downward trend of upstream hot rolled coil (HRC) prices in the global markets.
Meanwhile, Turkish mills' local offers for PPGI have remained unchanged compared to the previous week. Currently, prices for RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI are standing at $950-1,010/mt, while offers for RAL 9002 0.5 mm are at $810-870/mt and prices for RAL 9002 1 mm stand at $730-780/mt. All the offers in question are on ex-works basis, exclude 18 percent VAT, and are for February and March production.
On the other hand, demand for Turkish PPGI is still slack in the export markets. However, Turkish PPGI exports of lower tonnages to Iraq, Syria, Lebanon, the CIS and eastern Europe have continued over the past week. Meanwhile, ex-Turkey PPGI offers have declined by $20/mt on the upper end during the past week to the range of $800-830/mt FOB for shipments in February and March.
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