Over the past week, demand in the local Turkish pre-painted galvanized iron (PPGI) market has weakened, while prices have continued their downward trend as a result of price negotiations. Market sources state that Turkish buyers continue to exert pressure on domestic PPGI prices due to the downtrend of global flat steel and iron ore prices. Affected by the downward pricing pressure from the buyers’ side, following the softening of domestic hot rolled coil (HRC) prices in Turkey, Turkish coated coil producers have started to offer discounts again.
Accordingly, Turkish domestic PPGI prices have remained moved down by $30/mt week on week, with RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI prices at $980-1,025/mt, with the price of RAL 9002 0.5 mm at $820-860/mt and the price of 1 mm RAL 9002 at $710-765/mt. All the offers in question are on ex-works basis and exclude 18 percent VAT.
Meanwhile, Turkish PPGI export prices have also declined by $30/mt week on week to $805-825/mt FOB.