Turkey: Flat Steel Imports Plummet 18% M-o-M in Feb’18

According to the latest customs data, Turkey flat steel imports which includes 7208 (HR coils /Plates), 7209 (CR coils), 7225 (Electrical sheets),7210/7212(GP/GC) stood at 0.54 MnT, moved down by 18% M-o-M basis in Feb’18. However in Jan’18 the same stood at 0.66 MnT.

On yearly comparison nation’s flat steel import volumes registered fall of 4% in Feb’18 against 0.56 MnT in preceding year.

During first two months ( Jan-Feb) of CY17 nation’s flat steel import volumes stood at 1.2 MnT higher by 11% against 1.08 MnT in similar time frame of previous year.

Competitive prices in domestic market kept imports low-Turkey’s flat steel output is likely to increase further as a result of strong demand for exports.Also domestic buyers continue to prefer local products rather than imports. Meanwhile demand for flat steel imports remained weak because prices have not been competitive.Thus reducing nation’s flat steel import volumes in the month of February.

Turkey: HRC/Plates imports witness Decline in Feb’18

Sub Commodity	Feb’18	Jan’18	M-o-M  (Change in %)	Feb’17	Y-o-Y (change in %)
HRC/Plate	0.30	0.41	-26.83	0	…
Electrical Steel	0.11	0.12	-8.33	0
Galvanised Steel	0.08	0.06	33.33	0
CRC	0.05	0.06	-16.67	0.56	-91.00
Others	0.01	0.01	0.00	0
Grand Total	0.54	0.66	-18%	0.56	-4%

 Quantity in MnT

Source- SteelMint Research

 

Country-Wise Turkey Flat Steel Imports in Feb’18 – Russia was the major flat steel exporter to Turkey and has exported 0.11 MnT of flat steel in Feb’18 against 0.18 MnT in Jan’18.Thus nation’s flat steel import volumes decline by 39% on monthly basis from Russia.

Other major flat steel exporting nation to Turkey is Ukraine which stood at 0.07 MnT in Feb’18 ,moved up by 40% M-o-M basis against 0.05 MnT in Jan’18.

Imports from France remain stable from last two months and recorded at 0.06 MnT.

Followed by Germany which stood at 0.05 MnT in Feb’18 up by 25% on monthly basis against 0.04 MnT last month.

However South Korea stood at 0.05 MnT in Feb’18 up by 25% against 0.04 MnT in previous month.