Billet Imports in Turkey plunged by around 62% M-o-M in Oct’18 & recorded the lowest volume of imports since May 2012, as per the recent released data by Turkey’s custom.
Demand for billet in the Turkish domestic market was declining over slowdown buying interest of finished steel.
As per the custom, the nation has imported about 148,906 MT Billet in October 2018 against 393,774 MT in September 2018, drifted by 62.19% on monthly premises. While on yearly basis, imports decline by 72% & stood at 523,137 MT in October 2017.
In the month of October 2018, Turkey’s monthly crude steel production incline by 12.07% & stood at 3,164,250 MT and in September it was approximately 2,823,278 MT. Meanwhile, in CY17 the figure of crude steel production stood at 37,331,377 MT, & 33,163,131 MT in CY16.
Billet Imports from Russia & Ukraine decline
Russia stands out to be the largest billet exporter to Turkey, exporting 91,275 MT in Oct’18, followed by United Kingdom (24,127 MT), Ukraine (17,852 MT) & Egypt (5,046 MT).
Further in the month of Oct’18, the billet exports by Russia to Turkey decline by around 58.94% on monthly basis against 222,318 MT in Sep’18. Inline, imports from Ukraine also decline by 73.98% M-o-M. And Billet imports from Brazil & United Arab Emirates to Turkey has recorded nil against the last 2-3 months.
During Jan-Oct’18, Russia has exported approximately 49.54% billet (1,966,664 MT) to the nation, followed by Ukraine (800,858 MT) & Brazil (451,726 MT). Prior to this in the same preceding last year, Russia’s billet export to the nation was around 1,427,044 MT, surge almost 37.81% on yearly basis. While in CY 2018 (Jan-Oct) the Turkey’s billet import was around 3,969,905 MT & 3,745,618 MT in CY17 (Jan-Oct).
Key Updates
— The reference index price for US origin HMS (80:20) scrap stood at USD 315/MT, CFR Turkey.
— Billet (125*125, 3sp) offers from CIS nations are assessed at USD 460-465/MT CNF Turkey , as per our last assessment (5 Dec’18).
— Turkey scrap imports rise 2.58% Y-o-Y during Jan-Oct’18 & stood at 17,484,075 MT as against 17,043,649 MT ferrous scrap imports in Jan-Oct’17.
— Turkey’s iron ore imports recorded at 1,226,518 MT in Oct’18, rise sharply 110.21% M-o-M as against 583,485 MT in Sep’18.
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