Local Turkish PPGI prices remain stable

Demand in the local Turkish pre-painted galvanized (PPGI) coil market is still low, while prices have remained unchanged over the past week. It is observed that coated coil inventories in Turkey are at very low levels. Meanwhile, the ongoing political and economic uncertainties in the country are expected to diminish after the referendum to be held on April 16. As a result, transaction activities in the local Turkish PPGI market are foreseen to increase as of mid-April.
 
Turkish mills' local prices remain unchanged, with RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI standing at $960-1,045/mt, RAL 9002 0.5 mm at $810-870/mt and prices for 1 mm RAL 9002 remained at $700-785/mt. All the offers in question are on ex-works basis and exclude 18 percent VAT.
 
Meantime, Turkish PPGI coil sales to the export markets have continued. In particular, US-based and European buyers' demand for Turkish coated coil has remained at decent levels. Currently, Turkish mills' PPGI export quotations are at $800-860/mt FOB, stable week on week.