Over the past week, buyers in the local Turkish pre-painted galvanized iron (PPGI) market have stepped up their price inquiries slightly, while prices have remained stable. The pressure exerted by local buyers on domestic PPGI prices in Turkey has eased due to the ongoing upward movement of global iron ore prices and also since local flat steel prices have remained unchanged. As their inventories are at quite low levels, buyers are expected to increase their bookings slightly in the short term amid the strong belief that the downward movement of steel prices in the global market has ended and that prices will switch to an upward trend,
Turkish producers' domestic PPGI prices are still at $875-905/mt for RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI, at $715-745/mt for RAL 9002 0.5 mm PPGI and at $610-650/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 remained stable at $715-735/mt FOB.