Over the past week, buyers in the local Turkish pre-painted galvanized iron (PPGI) market have continued to make purchases only to meet their immediate, while Turkish mills’ prices have decreased by $15/mt week on week. Meanwhile, demand is still weak due to the upcoming Feast of Sacrifice, the ongoing rapid depreciation of the Turkish lira against the US dollar and the expectation that prices will decline a little further since the US doubled tariffs on Turkish steel imports. According to market sources, demand is not expected to recover in the short term, though may increase slightly as of September.
Turkish producers' domestic PPGI prices are now at $985-1,015/mt for RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI, at $825-845/mt for RAL 9002 0.5 mm PPGI and at $715-755/mt for RAL 9002 1 mm PPGI. All the offers in question are on ex-works basis and exclude 18 percent VAT.
During the past week, Turkish PPGI offers to the export markets have also declined by $15/mt to $825-835/mt FOB.