Demand still weak in local Turkish PPGI market

Tuesday, 09 April 2019 14:49:15 (GMT+3)   |   Istanbul

Over the past week, demand in the local Turkish pre-painted galvanized iron (PPGI) market has remained at low levels, while prices have decreased further. Prices in the local Turkish PPGI market have fallen approximately by eight percent since the beginning of March due to the reductions made by Turkish PPGI mills which have been facing weak demand both in their domestic and export markets. Despite lower domestic PPGI quotations, market sources do not expect a revival in demand due to the weakness of end-user demand and the Easter holiday in Europe, Turkey’s biggest export market. Under the current circumstances, 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 $910-940/mt for RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI, to $750-780/mt for RAL 9002 0.5 mm PPGI and to $645-685/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 down by $10/mt to $750-770/mt FOB.

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