It is observed that purchases in the local Turkish pre-painted galvanized iron (PPGI) market have increased over the past week, pushing up domestic PPGI prices by $10/mt week on week. Having carried low inventories for a long time now, Turkish buyers have accelerated their coated steel purchases amid their expectations of a rise in prices following the uptrend of hot rolled coil (HRC) quotations recorded at the beginning of last week. Market sources state that no further revival is expected in demand in the short term as buyers are unwilling to increase their inventory levels due to the ongoing negative outlook for Turkey’s economy.
Turkish producers' domestic PPGI prices are now at $885-915/mt for RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI, at $725-755/mt for RAL 9002 0.5 mm PPGI and at $620-660/mt for RAL 9002 1 mm PPGI. All the offers in question are on ex-works basis and exclude 18 percent VAT.
In the same period, Turkish PPGI export quotations have moved up by $10/mt and are currently at $725-745/mt FOB.