Over the past week, buyers in the local Turkish pre-painted galvanized iron (PPGI) market have continued to conclude purchases, while prices have increased further, rising by $10/mt week on week. Buyers have accelerated their bookings as they think that prices will continue to increase in the coming period. Meanwhile, some Turkish coated steel producers have close their sales as their inventories of hot rolled coil (HRC), the main raw material used in PPGI production, are low, and this situation has provided support for the upward movement of domestic PPGI prices in the country. Market sources state that demand for domestic PPGI in Turkey may decrease slightly as buyers have mostly completed their bookings, though the market sources think that prices are unlikely to be impacted by the weakness of demand as some producers are not giving offers.
Turkish producers' domestic PPGI prices are now at $895-925/mt for RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI, at $735-765/mt for RAL 9002 0.5 mm PPGI and at $630-670/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 week, Turkish PPGI export quotations have moved up by $10/mt and are currently at $735-755/mt FOB.