Local Turkish PPGI market moves sideways

Tuesday, 11 June 2019 15:38:53 (GMT+3)   |   Istanbul
       

Last week, trading activity in the local Turkish pre-painted galvanized iron (PPGI) was very slow due to the end-of-Ramadan holiday. This week, buyers are not in any rush to resume their bookings and, instead, are monitoring the trends in the global flat steel and coated steel markets. Turkish coated steel producers, whose order books are fairly full, have not revised their prices for now and are also monitoring the global markets. According to market sources, no significant recovery is expected in demand for domestic PPGI in Turkey in the short term, though Turkish coated steel mills are unlikely to decrease their prices as their order books are healthy.

Against this backdrop, Turkish producers' domestic PPGI prices have remained at $910-950/mt for RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI, at $750-790/mt for RAL 9002 0.5 mm PPGI and at $645-695/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 also remained stable and are still at $750-780/mt FOB.


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