In the past week, demand in the local Turkish pre-painted galvanized (PPGI) coil market has remained weak due to the economic and political uncertainty prevailing in the country. Although local Turkish PPGI demand is not anticipated to recover ahead of the referendum to be held on April 16, domestic PPGI prices moved up due to higher hot rolled coil (HRC) and raw material prices, as well as due to decent demand for Turkish PPGI in the export markets.
Turkish mills' local prices increased by $40/mt on average for all grades, with prices for RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI moving up to $960-1,045/mt, prices for RAL 9002 0.5 mm rising to $810-870/mt and prices for 1 mm RAL 9002 increased to $700-785/mt. All the offers in question are on ex-works basis and exclude 18 percent VAT.
Meanwhile, demand for Turkish PPGI in the export markets has remained strong, while Turkish producers’ PPGI offer prices for the export markets have moved up in line with the increases seen in domestic prices. Currently, domestic producers’ PPGI export quotations stand at $800-860/mt FOB, up $60/mt week on week.