Weak demand in local Turkish PPGI market

Tuesday, 26 April 2016 16:20:21 (GMT+3)   |   Istanbul
       

Demand in the local Turkish pre-painted galvanized (PPGI) coil market has continued to be characterized by sluggishness in the past week as buyers are only concluding purchases in line with their needs. Following the $35/mt rise in Turkish steel mills' hot rolled coil (HRC) prices, Turkish PPGI producers have also raised their prices due to the higher raw material costs. A Turkish producer who was offering PPGI to its domestic market at the lower end of the most commonly reported price range closed its sales today, April 26, causing the general price range in the local Turkish PPGI market to increase by $80/mt. Accordingly, Turkish mills' local prices for RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI are at $930-995/mt, while their offers for RAL 9002 0.5 mm are at $800-840/mt and prices for 1 mm RAL 9002 are at $680-745/mt. All the offers in question are on ex-works basis, exclude 18 percent VAT, and are depending on producers' capacity.
 
Meanwhile, Turkish PPGI export prices have also increased by $82.5/mt on average week on week to $790-810/mt FOB due to the uptrend of HRC prices and global finished steel quotations. Meanwhile, demand for Turkish PPGI exports has remained slack since buyers consider the prices to be on the high side.

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