Over the past week, demand in the local Turkish coated coil market has remained at low levels. In addition to the weakness of demand, the declines seen in global flat steel prices have caused Turkish coated steel producers to sharply reduce their domestic prices. Market sources state that Turkish coated steel mills have revised their prices with the aim of increasing their sales, while they also report that buyers are still monitoring the international markets as domestic steel quotations in China are still on a downward trend, which started at the end of the long Chinese national holiday. Meanwhile, according to market sources, buyers in the local Turkish pre-painted galvanized iron (PPGI) market continue to postpone their purchases despite the declines recorded in prices.
Accordingly, Turkish domestic PPGI prices have decreased by $60/mt week on week, with RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI prices at $1,030-1,075/mt, with the price of RAL 9002 0.5 mm at $880-900/mt and the price of 1 mm RAL 9002 at $770-805/mt. All the offers in question are on ex-works basis and exclude 18 percent VAT.
Meanwhile, Turkish PPGI export prices have also decreased by $60/mt week on week, declining to $865-875/mt FOB.