Demand still weak in local Turkish PPGI market

Tuesday, 26 March 2019 16:01:24 (GMT+3)   |   Istanbul

Over the past week, demand in the local Turkish pre-painted galvanized iron (PPGI) market has remained at low levels, while domestic PPGI prices in Turkey have continued their downtrend. Ahead of the local elections in Turkey to be held on March 31, buyers are still postponing their purchases. Market sources do not expect a rapid recovery in demand after the completion of the elections, as they state end-users are waiting to see the trend of demand and also the movement of the Turkish lira-US dollar exchange rate. In the current situation, Turkish coated steel producers have reduced their domestic offers by $10/mt week on week.

As a result, Turkish producers' domestic PPGI prices have decreased to $920-950/mt for RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI, to $760-790/mt for RAL 9002 0.5 mm PPGI and to $655-695/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 decreased by $10/mt to $760-780/mt FOB.

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