Buyers in the local Turkish pre-painted galvanized (PPGI) coil market are still cautious and continue to make bookings only to meet their immediate needs due to the ongoing depreciation of the Turkish lira against the US dollar, resulting in weak demand. Market players state that they will continue to maintain a wait-and-see stance until the weakening of the Turkish lira against the dollar comes to end. Meanwhile, Turkish mills’ domestic PPGI quotations have remained stable week on week. Turkish mills' local prices for RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI are at $950-1,035/mt, while their offers for RAL 9002 0.5 mm are at $800-860/mt and prices for 1 mm RAL 9002 are at $690-775/mt. All the offers in question are on ex-works basis and exclude 18 percent VAT.
Meanwhile, demand and inquiries for Turkish PPGI in the export markets has started to recover since European and US-based buyers have begun to return from their holidays. Turkish PPGI export offers have remained stable week on week in the range of $770-805/mt FOB.