Over the past two weeks, demand in the local Turkish pre-painted galvanized iron (PPGI) market has remained slack. Buyers have started to conclude purchases to meet their needs following the New Year holiday, while domestic PPGI prices in Turkey have decreased by $20/mt as a result of negotiations during transactions. Market sources state that demand for domestic PPGI in Turkey is unlikely to recover in the short term and buyers are still adopting a cautious stance amid problems in terms of cash flow in the market.
Turkish producers' domestic PPGI prices are now at $880-910/mt for RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI, at $720-750/mt for RAL 9002 0.5 mm PPGI and at $615-655/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 $20/mt to $720-740/mt FOB, while it is observed that buyers in the global market have started to make inquiries for Turkish PPGI. Meanwhile, demand for Turkish PPGI in Europe, which had a 47 percent share in Turkey’s PPGI exports in the first ten months of 2018, is still slack due to the limited quota for imported PPGI from Turkey.