Demand in the Turkish domestic pre-painted galvanized iron (PPGI) market has continued to be characterized by slackness over the past week, while prices in the local Turkish PPGI market have decreased by $10/mt in the same period. Market sources state that PPGI prices has been negatively impacted by the declining hot rolled coil (HRC) prices, while demand for Turkish PPGI has decreased both in local and export markets. Especially with the Russian ruble seriously loosing strength against the US dollar, Turkish PPGI exports to the country have almost ground to a halt. On the other hand, Turkish PPGI exports to the Balkan states continue, while market players are anxious about the Turkish flat steel market's trend in the coming period.
Turkish mills' local offers for RAL 9002 0.3 mm 100 gr/m² zinc-coated PPGI are standing at $980-1,040/mt, while offers for RAL 9002 0.5 mm are at $840-890/mt and prices for RAL 9002 1 mm stand at $760-810/mt. All the offers in question are on ex-works basis and exclude 18 percent VAT.
In the meantime, ex-Turkey PPGI offers have decline by $5/mt compared to last week in the range of $820-860/mt FOB, for February and March shipments.