Over the past week, demand in the local Turkish pre-painted galvanized iron (PPGI) market has remained weak. Buyers have continued to make bookings only to meet their urgent needs and to exert pressure on prices. However, Turkish mills have been unwilling to decrease their prices, especially since flat steel prices in the global market have switched to a sideways trend this week. Since global prices of hot rolled coil (HRC) coil, which is used as raw material in coated steel production, are expected to move sideways before the new year, domestic PPGI prices in Turkey are unlikely to indicate sharp declines in the coming period.
Turkish producers' domestic PPGI prices are still at $920-950/mt for RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI, at $760-790/mt for RAL 9002 0.5 mm PPGI and at $655-695/mt for RAL 9002 1 mm PPGI. All the offers in question are on ex-works basis and exclude 18 percent VAT.
It is observed that demand for Turkish PPGI in the export markets has continued to be characterized by weakness due to the approach of the new year and the holiday season. In the given week, Turkish PPGI export quotations have remained unchanged at $760-780/mt FOB.