Although over a week has passed since the referendum in Turkey, demand in the local Turkish pre-painted galvanized (PPGI) coil market has remained at low levels due to the ongoing political and economic uncertainties in the country. Market sources state that, while PPGI coil inventories are at low levels, buyers are still concluding purchases only in line with their needs.
Turkish mills' local prices have remained unchanged during the past week, with RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI standing at $950-1,005/mt, RAL 9002 0.5 mm at $800-830/mt and prices for 1 mm RAL 9002 at $690-745/mt. All the offers in question are on ex-works basis and exclude 18 percent VAT.
On the other hand, demand for Turkish coated coil in the global market is at low levels due to the ongoing decreases in global flat steel prices. Buyers are seen to be postponing their purchases as they believe that the anticipated decrease in PPGI coil prices has not been seen yet. Turkish mills' PPGI export quotations are still at $790-820/mt FOB, remaining unchanged week on week.