Over the past week, demand in the local Turkish pre-painted galvanized iron (PPGI) market has remained slack, while prices have decreased by $20/mt week on week. Buyers have postponed their bookings due to the approach of the local elections in Turkey to be held in late March and have preferred just to monitor flat steel prices in the global market. According to market sources, demand for domestic PPGI in Turkey is not expected to recover until after the elections and buyers are still exerting pressure on prices.
As a result, Turkish producers' domestic PPGI prices have decreased to $955-985/mt for RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI, to $795-825/mt for RAL 9002 0.5 mm PPGI and to $690-730/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 decreased by $20/mt to $795-815/mt FOB.