Weak demand in local Turkish PPGI market

Demand in the local Turkish pre-painted galvanized (PPGI) coil market has remained weak due to the ongoing political and economic uncertainties in Turkey. Demand is not expected to improve before the referendum to be held on April 16, while market sources state that inventory levels in the domestic PPGI market are low and purchasing activity is expected to revive after the referendum.
 
Turkish mills' local prices remain unchanged, with RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI standing at $960-1,045/mt, RAL 9002 0.5 mm at $810-870/mt and prices for 1 mm RAL 9002 remaining at $700-785/mt. All the offers in question are on ex-works basis and exclude 18 percent VAT.
 
Although demand from European buyers for Turkish PPGI coil has slackened slightly ahead of Easter, it is expected to improve after the Easter holiday and return to normal levels. Currently, Turkish mills' PPGI export quotations are at $800-860/mt FOB, stable week on week.