Billet Imports to Turkey rise by around 37% in H1 CY18 as against H1 CY17 as per the recent data released by Turkey’s custom.
The nation has imported about 2.92 MnT Billet in H1 CY18 against 2.14 MnT in H1 CY17, surge by 36.44% on yearly premise.
During the period of H1 2018, the largest exporter of Billet to Turkey was Russia, whose export to the nation was recorded at 1.35 MnT against 0.83 MnT in H1 2017, inclining by around 63% Y-o-Y. And, It may also be mentioned that Russia has contributed around 46% of share of Turkish Billet imports in H1 CY18. In line, Ukraine 0.63 MnT, Brazil 0.40 MnT, Egypt 0.10 MnT & United Arab Emirates 0.09 MnT.
Quarterly Analysis: The recent SteelMint’s Statistics report showed imports of Billet in Turkey during Q2 CY18 (Apr-Jun’18) at 1.42 MnT, surge by 57.77% on yearly premises, when it compared with Q2 CY17 (Apr-Jun’17) at 0.90 MnT. While, on quarterly premises the exports incline by around 5% in Q2 CY18 against Q1 CY18 at 1.50 MT.
Monthly Analysis: In the month of June’18, imports declined by 37% M-o-M to 0.34 MnT as against 0.54 in May’18. The key attributes shows that demand of billet from Turkish customers was slow-down over shrinking demand of local finished steel amid falling Turkey’s currency value in global market.
Key Updates
— The crude steel production of Turkey was recorded at around 18.86 MnT in H1 CY18, increased by 4.08% against 18.12 MnT in H1 CY17.
— Turkey has recorded a decline of iron ore imports in Jun’18 & stood at 0.61 MnT, down 42% M-O-M as against 1.05 MnT in May’18.
— Turkey imported 10.75 MnT ferrous scrap in H1 CY18 witnessing a rise of 15.60% Y-o-Y as against 9.30 MnT ferrous scrap imports in H1 CY17.
— The reference index price for US origin HMS (80:20) scrap stood at USD 327-328/MT, CFR Turkey, prices decreased by around USD 3-4/MT on recent trade activities.
— Billet offers from CIS nations for Turkey are assessed at USD 505-510/MT CNF Turkey , Offers decline by USD 5/MT against the last week
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