With the influence of the Feast of Sacrifice holiday, demand in the local Turkish pre-painted galvanized iron (PPGI) market has been at significantly low levels over the past two weeks. Having returned to the market after the holiday, Turkish market players are still postponing their PPGI purchases against the backdrop of the ongoing sharp fluctuations in the Turkish lira-US dollar exchange rate. In the short term, buyers are expected to monitor the economic developments as they maintain their cautious stance as regards new deals.
Turkish producers' domestic PPGI prices are still 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 moved sideways in the range of $825-835/mt FOB.