During the past week, demand in the local Turkish pre-painted galvanized iron (PPGI) market has remained slack. Turkish buyers have continued to postpone their bookings since the economic situation of the country is still negative and have exerted further pressure on prices due to the downwards movement of flat steel prices in the global market. As a result, Turkish producers’ PPGI prices have decreased by $10/mt week on week. According to market sources, demand for domestic PPGI in Turkey is not expected to recover in the short term due to the approach of the new year and the economic situation of the country.
Turkish producers' domestic PPGI prices are now 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 $655-795/mt for RAL 9002 1 mm PPGI. All the offers in question are on ex-works basis and exclude 18 percent VAT.
In the given period, demand for Turkish PPGI in export offers has also weakened due to the approach of the new year and Turkish PPGI export quotations decreased by $10/mt week on week to $760-780/mt FOB.