Local Turkish PPGI market continues its downward trend

Tuesday, 19 March 2019 16:48:32 (GMT+3)   |   Istanbul

Over the past week, demand in the local Turkish pre-painted galvanized iron (PPGI) market has remained slack, while buyers have continued to postpone their bookings and are still exerting pressure on prices due to the approach of the local elections in Turkey to be held in late March. Amid weak demand and pricing pressure in their domestic and export markets, Turkish coated steel producers’ prices have decreased by $25/mt week on week. According to market sources, in the short term demand for domestic PPGI in Turkey is not expected to recover until after the elections and even then buyers will likely make bookings only to meet their immediate needs amid the lack of any clear outlook in terms of demand from end-users.

As a result, Turkish producers' domestic PPGI prices have decreased to $930-960/mt for RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI, to $770-800/mt for RAL 9002 0.5 mm PPGI and to $665-705/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 $25/mt to $770-790/mt FOB.


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