Billet Imports in Turkey moved up by 75% M-o-M in July 2017, the recent released data by Turkey’s custom showed.
As per the customs, the nation has imported about 470,000 MT Billet in July 2017 against 270,000 MT in June’17, surge almost by 75% on monthly premises. On the contrary Y-o-Y, imports were down by 6% against 500,000 MT in July’16.
Further, on yearly basis, in first 7 months of CY 2017 (Jan-Jul), the imports is down by 36.49% to 2.61 MnT against same preceding last year at 4.11 MnT.
Country wise:
During July 2017, the largest exporter of Billet to Turkey was Russia – 200,000 MT, Ukraine – 110,000 MT & Brazil at 40,000 MT.
Similarly, in the total billet imports during 2017 (Jan-Jul’17), the major sellers of billet to Turkey was – Russia (39.38%), Ukraine (28.44%), Brazil (13.61%), Iran (2.95%) & Netherlands (2.32%).
As per the SteelMint’s assessment in July 2017, the crude steel production of the Turkey was around 3.34 MnT and in CY17(Jan-Jul) it was approximately 21.46 MnT. Prior to this it was at 33.16 MnT in CY16 & 31.52 MnT in CY15.
Key Updates
1. Turkey’s ferrous scrap imports has increased by 57% M-o-M to 2.02 MnT in July’17 against 1.29 MnT in June’17
2. The reference index price for US origin HMS 1&2 (80:20) scrap stood at USD 353-355/MT, CFR Turkey, buyers have shown no buying interest.
3. Imported billet offers in Turkey remain unaltered since last week and the offers are assessed at USD 520/MT CNF. Freight is around USD 15/MT from Black Sea ports to Turkey.
4. On weekly basis, no major changes seen in Turkish Rebar export offers, price assessment at USD 535/MT FoB.
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