Trading activity in local Turkish PPGI market accelerates slightly

Although pre-painted galvanized (PPGI) coil purchases in Turkey have accelerated slightly over the past week, demand in the local PPGI market is still weak. Flat steel prices in Turkey are still under pressure, while it is observed that buyers are limiting their PPGI coil purchases as they expect prices to fall further. 
 
Turkish mills' local prices have remained stable during the past week, with RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI standing at $920-975/mt, RAL 9002 0.5 mm at $770-800/mt and prices for 1 mm RAL 9002 at $660-715/mt. All the offers in question are on ex-works basis and exclude 18 percent VAT.
 
As a result of the declines seen in global iron ore prices and the ongoing downward pressure on global flat steel prices, demand for Turkish coated coil in the international markets has remained weak. Meanwhile, Turkish mills' PPGI export quotations have moved sideways week on week at $760-790/mt FOB.