Over the past week, producers’ prices in the local Turkish pre-painted galvanized iron (PPGI) market have maintained their downward movement, declining by $20-25/mt on the upper end. Market sources state that demand is still weak as buyers prefer to postpone their bookings due to the approach of Ramadan, the snap election in Turkey and due to the ongoing declines in global flat steel prices.
Accordingly, Turkish producers' domestic PPGI prices are now at $1,020-1,060/mt for RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI, at $860-890/mt for RAL 9002 0.5 mm PPGI and at $750-800/mt for RAL 9002 1 mm PPGI. All the offers in question are on ex-works basis and exclude 18 percent VAT.
Meanwhile, Turkish PPGI offers to the export markets have decreased by $30/mt on the upper end during the given period to $860-880/mt FOB.