Finished steel exports from the Turkey to US continued to plunge following trade barriers imposed by Trump administration since Aug’18, which has negatively affected Turkey exports.
During August 2018, the Trump government had doubled its import tariff on Turkey steel to 50%.
Finish long steel exports from Turkey marked a fall of 21.64% in the quarter and registered at 2.28 MnT in Q1 CY19 as against 2.91 MnT in Q4 CY18.
Following narrowed down exports, the rebar prices fell by USD 15/MT Q-o-Q to USD 473/MT FoB Turkey, in Q1 CY19. In line country’s production it lessened by 11% in Q1 CY19 and recorded at 8.19 MnT as against 9.19 MnT in Q4 CY18.
On yearly premises, finished long steel exports fell by 7.95% and stood at 0.81 MnT in Mar’19 against 0.88 MnT in Mar’18. On contrary monthly basis, exports registered a surge of 25% in Mar’19 as compared to 0.65 MnT in Feb’19.
Commodity wise – Rebar recorded at 1.84 MnT in Q1 CY19 which is shrunk by 25.5% than the 2.47 MnT in Q4 CY18 followed by Structure at 0.35 MnT in Q1 CY19 which is slightly fall by 3% against 0.36 MnT in Q4 CY18 & Wire rod remained unchanged at 0.09 MnT in Q1 CY19 against previous time frame.
Load Country Wise – The major exports of Finish Long Steel by Turkey to Yemen with 0.37 MnT in Q1 CY19 which is surge by 131% against 0.16 MnT in Q4 CY18 followed by Israel at 0.33 MnT in Q1 CY19, down by around 20% against 0.41 MnT in Q4 CY18.
Meanwhile exports to the Netherland at 0.11 MnT in Q1 CY19 which is fell by around 27% against 0.15 Mnt in Q4CY’18.
Turkey flat steel exports slump by 15% Q-o-Q in Q1 CY19: Turkey’s flat steel export declined by 15% to 2.08 MnT in (Jan-Mar) Q1 CY19 which was 2.44 MnT in (Oct-Dec) Q4 CY18.
Nation’s flat steel exports started weakening since USA imposed 25% of tariffs under section 232 in Mar’18 on steel products. Further USA doubled its tariffs to 50% on Turkey imports in Aug’18. This has hit Turkey’s flat steel exports to great extent.
Meanwhile European Union has imposed definitive safeguard duty on imports of steel from Turkey on 1st Feb’19. Thus Turkey steelmakers have reduced their capacity utilization amid imposed restrictions in export market and weakening demand in domestic market.
Whereas on monthly basis nation’s export inched down by 1% to 0.73 MnT in Mar’19 against to 0.74 MnT in previous month.
Meanwhile on yearly premise nation’s exports registered 33% upsurge in Mar’19 in comparison to 0.55 MnT in Mar’18.
Country wise – Turkey exports flat steel majorly to Italy and accounted at 0.57 MnT in Q1 CY19, increased by 16% from 0.49 MnT in the previous quarter.
Other major importers of Turkish flat steel products in Q1 CY19 included Spain 0.27 MnT, Romania 0.15 MnT, United Kingdom 0.12 MnT and Belgium at 0.10 MnT.
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