Billet Imports in Turkey moved up by 59% M-o-M in Mar’18 & 6% Q-o-Q in Q4 FY18, the recent released data by Turkey’s custom showed.
As per the customs, the nation has imported about 630,250 MT Billet in March 2018 against 396,825 MT in February 2018, surge by 58.82% on monthly premises. On the contrary Y-o-Y, imports were up by 47% against 428,507 MT in Mar’17.
During March 2018, the largest exporter of Billet to Turkey was Russia – 250,547 MT, Brazil – 179,914 MT & Ukraine at 97,403 MT.
Further, on yearly basis, in fiscal year of 2018 (Apr-Mar), the imports is down by 10% to 4,894,461 MT against same preceding last year at 5,413,671 MnT.
As per the SteelMint’s assessment in March 2018, the crude steel production of the Turkey was around 3.37 MnT and in FY18 it was approximately 38.10 MnT.
Quaterly Analysis
The recent SteelMint’s Statistics report showed imports of Billet in Turkey during Q4 FY18 (Jan-Mar’18) at 1,497,608 MT, surge by 5.67% Q-o-Q when it compared with Q3 FY18 (Oct-Dec’17) at 1,417,122 MT. Inline, on yearly premises the exports incline by 20.50% in Q4 FY18 against Q4 FY17 at 1,242,750 MT.
The total billet imports during Q4 FY18, the major sellers of billet to Turkey was – Russia 723,554 MT (48.31%), Ukraine 294,124 MT (19.64%), Brazil 221,031 MnT (14.76%), United Kingdom 69,062 MT (4.61%) & United Arab Emirates 48,284 MnT (3.22%).
Key Updates
1. Turkey has imported 1.83 MnT ferrous scrap in Mar’18 which remained nearly stable against 1.85 MnT imports noted in Feb’18.
2. The reference index price for US origin HMS (80:20) scrap stood at USD 358/MT, CFR Turkey, prices increased by around USD 5/MT on recent trade activities.
3. Billet offers from CIS nations are assessed at USD 525-535/MT CFR Turkey. While in Turkey buyers were bidding USD 520/MT on CFR basis
4. Turkish Rebar export offers are assessed (Last Week) at USD 550-560/MT FoB. Weakening of Turkish lira against the USD supported the recovery in Turkish rebar prices
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