Turkey Billet Imports Analysis, August 2017

Billet Imports in Turkey moved down by 49% M-o-M in August 2017, the recent released data by Turkey’s custom showed.

As per the customs, the nation has imported about 240,000 MT Billet in August 2017 against 470,000 MT in July’17, fall almost by 49% on monthly premises. On the contrary Y-o-Y, imports were down by 51% against 490,000 MT in August’16.

Further, on yearly basis, in first 8 months of CY 2017 (Jan-Aug), the imports is down by 38.04% to 2.85 MnT against same preceding last year at 4.60 MnT.

Country wise:

During August 2017, the largest exporter of Billet to Turkey was , Ukraine – 60,000 MT , United Arab Emirates – 40,000 MT & Russia – 30,000 MT.

Similarly, in the total billet imports during 2017 (Jan-Aug’17), the major sellers of billet to Turkey was – Russia (1.06 MnT), Ukraine (0.80 MnT), Brazil (0.36 MnT), Iran (0.10 MnT) & Netherlands (0.09 MnT).

As per the SteelMint’s assessment in August 2017, the crude steel production of the Turkey was around 3.18 MnT and in CY17(Jan-Aug) it was approximately 24.64 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 decreased by 23% M-o-M to 1.56 MnT in August’17 against 2.02 MnT in July’17

2. The reference index price for US origin HMS 1&2 (80:20) scrap stood at USD 290-300/MT, CNF Turkey.

3. Imported billet (125*125) offers in Turkey remains downward since last week and the offers are assessed at USD 500-505/MT CNF Turkey.

4. On weekly basis, Turkish Rebar export offers down by USD 20/MT, currently price assessment are at USD 530-540/MT FoB.

Top Load Country (Jan – Aug’17)

Quantity in MnT
Sources: SteelMint Stats