Over the past week, demand in the local Turkish pre-painted galvanized iron (PPGI) market has remained slack, while prices are unchanged. Buyers have continued to make bookings only to meet their immediate needs due to the negative economic situation in Turkey, the approach of the summer season, and Ramadan which started yesterday. According to market sources, trading activity in the market has decreased significantly due to the sharp depreciation of the Turkish lira against the US dollar. Under these circumstances, demand for domestic PPGI in Turkey is expected to remain weak in the short term.
As a result, Turkish producers' domestic PPGI prices are 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 period, Turkish PPGI export quotations have also remained stable, continuing in the range of $735-755/mt FOB.