Turkish PPGI prices increase

During the past week, demand in the local Turkish pre-painted galvanized (PPGI) coil market has remained weak, while domestic PPGI prices have increased. The decline recorded in domestic hot rolled coil (HRC) prices in Turkey in the second week of May had not been reflected in PPGI quotations. However, in the current week Turkish coated coil producers have passed on their increased costs to their PPGI prices and, as they also believe that the upward movement of global flat steel quotations will continue, domestic PPGI prices in Turkey have increased despite the weakness of demand.
 
Turkish mills' local prices have moved up by $20/mt during the past week, with the price of RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI rising to $920-975/mt, with the price of RAL 9002 0.5 mm moving up to $770-800/mt and prices of 1 mm RAL 9002 increasing to $660-715/mt. All the offers in question are on ex-works basis and exclude 18 percent VAT.
 
Meanwhile, Turkish mills' PPGI export quotations have increased by $20/mt week on week to $760-790/mt FOB. It is reported that demand for Turkish PPGI in the international markets is still at low levels due to Ramadan and the start of the summer season.