According to the recent customs data,Turkey flat steel imports which includes 7208 (HR coils /Plates), 7209 (CR coils), 7225 (Electrical sheets),7210/7212(GP/GC) witness decline in Q1CY18 against previous quarter.
On quarterly comparison, imports have come down by 13% in Q1CY18 (Jan -Mar) to 1.79 MnT as compared to 2.05 MnT in Q4 CY17 (Oct-Dec).
On monthly comparison nation’s flat steel import volumes increased by 9% to 0.59 MnT in Mar’18 as compared to 0.54 MnT in Feb’18. However on yearly basis the same moved down by 14.4% in Mar’18 against 0.69 MnT in preceding year.
Current demand is weak in Turkey’s flat and long steel markets, due to uncertainty after the Section 232 announcement in the United States that applied 25% duty to imports of steel products.
There is also an expectation that prices will fall because current orders will be produced in May, when the Islamic holy month of Ramadan will start, and will be followed by seasonally slow months of June and July.
Turkey: HRC/Plates imports Rise in Mar’18
| Sub Commodity | Mar’18 | Feb’18 | M-o-M (Change in %) |
Mar’17 | Y-o-Y (change in %) |
| HRC/Plate | 0.33 | 0.30 | 10.00 | 0.42 | -21.43 |
| Electrical Steel | 0.11 | 0.11 | 0.00 | 0.06 | 83.33 |
| Galvanized Steel | 0.07 | 0.08 | -12.50 | 0.12 | -41.67 |
| CRC | 0.07 | 0.05 | 40.00 | 0.09 | -22.22 |
| Others | 0.01 | 0.01 | 0.00 | 0 | 0.00 |
| Grand Total | 0.59 | 0.54 | 9% | 0.69 | 14% |
Quantity in MnT
Source- SteelMint Research
Country-Wise Turkey Flat Steel Imports in Q1CY18- On quarterly basis ,major flat steel exporters of Turkey were Russia which procured 0.46 MnT of flat steel in Q1CY18.However on monthly basis Russia exported 0.17 MnT of flat steel, higher by 55% against 0.11 MnT in Feb’18.
Second major exporter was France which exported around 0.17 MnT of flat steel to Turkey in Q1CY18.On M-o-M basis the same went down by 17% in Mar’18 to 0.05 MnT against 0.06 MnT in Feb’18.
Other major importers of Turkey in Q1FY18 are Ukraine at 0.17 MnT,Germany at 0.13 MnT followed by South Korea at 0.13 MnT and Netherland at 0.12 MnT .
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