Over the past week, Turkish pre-painted galvanized (PPGI) coil producers have reduced their domestic prices by $35/mt on average in order to attract buyers and conclude bookings, against the backdrop of the ongoing political and economic uncertainties in Turkey and the strong fluctuations recorded in the Turkish lira-US dollar exchange rate. Despite the downtrend of prices, Turkish buyers have continued to make bookings only to meet their immediate needs, maintaining their cautious stance. Turkish mills' local prices for RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI are at $930-985/mt, while their offers for RAL 9002 0.5 mm are at $780-810/mt and prices for 1 mm RAL 9002 are at $670-725/mt. All the offers in question are on ex-works basis and exclude 18 percent VAT.
In line with the decreases in prices in their domestic market, Turkish producers have also lowered their offer prices for the export markets, decreasing them by an average of $22.5/mt week on week to the range of $750-780/mt FOB. The declines in Turkish PPGI export prices are lower than the price decreases in their domestic market, since demand for Turkish PPGI in the export markets is livelier than domestic demand.