Following recent increases, price levels in the local Turkish pre-painted galvanized iron (PPGI) market have failed to gain acceptance from buyers during the past week, while demand has slackened in the given period. Market sources do not believe that Turkish mills will be willing to reduce their coated steel quotations due to the ongoing increasing trend of hot rolled coil (HRC) prices, and so they are expecting the current price levels to be accepted in the short term.
Having remained stable over the past week, Turkish domestic PPGI prices are currently at $1,085-1,125/mt for RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI, at $925-960/mt for RAL 9002 0.5 mm PPGI and at $815-865/mt for RAL 9002 1 mm PPGI. All the offers in question are on ex-works basis and exclude 18 percent VAT.
Meanwhile, Turkish PPGI offers to the export markets have increased by $10/mt on the upper end week on week to $925-955/mt FOB.