Over the past week, demand in the local Turkish pre-painted galvanized iron (PPGI) market has remained weak, while Turkish PPGI producers have maintained their domestic prices unchanged. Meanwhile, Turkish buyers continue to postpone their purchases ahead of the end-of-Ramadan holiday and the snap election to be held on June 24. Besides the approaching holiday and snap election, market sources state that domestic PPGI demand in Turkey is not expected to recover in the short term against the backdrop of maintenance works and holidays during the summer period.
Accordingly, Turkish producers' domestic PPGI prices are still at $970-1,020/mt for RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI, at $810-850/mt for RAL 9002 0.5 mm PPGI and at $700-760/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 offers to the export markets have remained stable during the given period at $810-840/mt FOB.