Over the past week, demand in the local Turkish pre-painted galvanized iron (PPGI) market has remained weak, while prices have decreased by $15/mt on the upper end. Market sources state that Turkish coated steel producers have reduced their prices amid the downward pricing pressure from buyers and slack demand. However, no recovery has been observed in the market yet in terms of trading activity despite the decreases seen in prices.
Turkish domestic PPGI prices are now at $1,020-1,050/mt for RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI, at $860-885/mt for RAL 9002 0.5 mm PPGI and at $750-790/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 export prices have declined by $5/mt week on week to $860-870/mt FOB.