Turkey: Finish Long Steel Exports Climb to 5-Month High

Finish long steel exports from Turkey rallied by 14% M-o-M and stood at 5 months high in Sep’18, as per data compiled by SteelMint.

As per custom data, the nation has exported about 0.88 MnT Finish long steel in Sep’18, which is similar to exports during Mar’18. Also, the Sep’18 figures surge by 14.28% as against 0.77 MnT in Aug’18. In line Y-o-Y basis, exports have been enlarged by 120% against 0.4 MnT in Sep’17.

The export has moved up in line with massive proportionate of procurement from Singapore and drifted up by 220% M-o-M basis along with recent upgraded FTA conclusion between China and Singapore.

Under Finish Long commodities following HS Codes has been considered – Bar & Rod (HS Code 7213 & 7214), MS Wire (HS Code 7217) along with Angle & Shapes (HS Code 7215 & 7216).

Sub-Commodity Wise – Rebar occupied major share in exports and reported at 0.74 MnT in Sep’18 against 0.67 MnT in Aug’18; up by 10.44% followed by Structure at 0.11 MnT in Sep’18 against 0.08 MnT in Aug’18; elongated by 37.5% and lastly Wire rod at 0.03 MnT in Sep’18 which is increased by 50% M-o-M.

Country Wise – In Sep’18, the major exports of Finish Long Steel registered to Singapore – 0.16 MnT, drifted up by 220% against 0.05 MnT in Aug’18 followed by Israel – 0.10 MnT up by 25% against 0.08 MnT in Aug’18 and Yemen stood at 0.05 MnT decreased by 64% against 0.14 MnT in Aug’18.

Import

As per the custom data, the nation imported about 47,588 MT Finish long steel in Sep’18 against 43,746 MT in Aug’18, surge by 8.78% M-o-M. In line Y-o-Y basis, exports have been diminished by 36% against 74,529 MT in Sep’17.

Updates

— Imported scrap offers in Turkey assessed at USD 337-338/MT CNF for HMS 80:20, USA Origin as per last assessment.

— Turkey-world’s largest scrap importer has observed significant fall in Sep’18 imports by 35% M-o-M & 39% Y-o-Y. The country has imported about 1,226,517 MT ferrous scrap in Sep’18 as against 1,892,205 MT in Aug’18 & 2,009,491 MT in Sep’17. Amid Turkish Lira depreciation, scrap importers turned silent.

— As per sources, Turkey’s Rebar export offers is presently about USD 515-520/MT & Wire rod (mesh quality) at USD 530-535/MT FOB.