Demand climbs to medium levels in local Turkish PPGI market

According to market sources, despite the ongoing political uncertainty arising from result of the June 7 general election, demand in the local pre-painted galvanized (PPGI) coil market in Turkey has continued to recover during the past week, reaching medium levels. Market players state that inventories in the local Turkish PPGI market, which were at low levels over a long period, have also reached medium levels after the latest concluded deals. Currently, Turkish mills' local prices for RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI are at $835-860/mt, while their offers for RAL 9002 0.5 mm are at $720-755/mt and prices for 1 mm RAL 9002 are at $655-690/mt, all moving sideways compared to last week. All the offers in question are on ex-works basis, exclude 18 percent VAT, and are for July production.
 
On the other hand, Turkish PPGI export offer prices have remained stable week on week at $710-760/mt FOB, for July production. However, demand for Turkish PPGI in the export markets has weakened compared to last week due to the Ramadan and the increased inventory levels of buyers, who had accelerated their PPGI bookings during previous weeks.