In addition to the weak demand in the local Turkish pre-painted galvanized (PPGI) coil market, demand for Turkish PPGI in the export markets has also softened. Declines in ex-China and ex-CIS HRC prices have started to impact global HRC prices, including Turkish HRC prices. Turkish PPGI prices had been supported by the uptrend in global HRC prices for a long time. Since the support from HRC prices has disappeared and demand from the export markets has weakened, Turkish PPGI prices have softened.
Turkish mills' local prices decreased by $25/mt on average compared to the previous week, with RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI falling to $950-1,005/mt, RAL 9002 0.5 mm to $800-830/mt and prices for 1 mm RAL 9002 declining to $690-745/mt. All the offers in question are on ex-works basis and exclude 18 percent VAT.
Currently, Turkish mills’ PPGI export quotations are at $790-840/mt FOB, falling by an average of $25/mt week on week.