During the past week, buyers in the local Turkish pre-painted galvanized iron (PPGI) market have continued to postpone their purchases as they expected a further decline in prices, causing demand to remain at low levels. As a result, domestic PPGI prices in Turkey have moved down for the second consecutive week, declining by an average of $10/mt week on week. Market sources state that demand in the local Turkish PPGI market is negatively influenced by the approach of Ramadan, the weakness of global flat steel demand and the downtrend of prices.
Accordingly, Turkish producers' domestic PPGI prices are now at $1,030-1,090/mt for RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI, at $870-925/mt for RAL 9002 0.5 mm PPGI and at $760-830/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 also decreased by $10/mt week on week to $870-920/mt FOB.