Over the past two weeks, demand in the local Turkish pre-painted galvanized iron (PPGI) market has continued to be characterized by sluggishness, while producers’ prices have maintained their downward movement, declining by $10/mt in the given period. Market sources state that buyers are unwilling to build up their inventories due to the approach of Ramadan, while there are strong expectations among market players that prices will continue to decline in the coming period.
Accordingly, Turkish producers' domestic PPGI prices are now at $1,020-1,080/mt for RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI, at $860-915/mt for RAL 9002 0.5 mm PPGI and at $750-820/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 also decreased by $10/mt during the given period, to $860-910/mt FOB.