Over the past week, demand in the local Turkish pre-painted galvanized iron (PPGI) market has been weak, though prices in the market have increased by $10/mt. Having mostly completed the replenishment of their inventories, buyers have started to stand back and monitor the global market. According to market sources, the upward movement of domestic PPGI prices in Turkey will end in the short term as demand for flat steel in the global market has started to weaken due to strong raw material prices.
Turkish producers' domestic PPGI prices are now at $935-965/mt for RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI, at $775-805/mt for RAL 9002 0.5 mm PPGI and at $670-710/mt for RAL 9002 1 mm PPGI. All the offers in question are on ex-works basis and exclude 18 percent VAT.
In the same week, Turkish PPGI export quotations have also moved up by $10/mt and are currently at $775-795/mt FOB.