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) plunged by 22% on monthly basis to 0.44 MnT in Aug’18 as compared to 0.57 MnT in previous month.
Similarly on yearly basis nation’s flat steel imports tumbled by 33% in Aug’18 which was 0.66 MnT in Aug’17.
During first eight months of CY18 (Jan-Aug) nation’s flat steel imports summed upto 4.88 MnT fell by 3.3 % which was 5.05 MnT in corresponding time frame of previous year.
Sluggish demand results to lower import volumes from Turkey in Aug’18- In the month of August domestic demand continues to remain sluggish amid higher import prices.Also Turkish currency Lira depreciated against USD when Turkey and United states crises reached to its peak levels.Thus these reasons can be attributed for weak import volumes from Turkey in Aug’18.
Commodity wise Turkey flat steel imports in Aug’18
| Sub Commodity |
Aug’18 | Jul’18 | M-o-M
(Change in %) |
Aug’17 | Y-o-Y
(change in %) |
| HRC/Plate | 0.23 | 0.29 | -20.69 | 0.34 | -32.35 |
| Electrical Steel | 0.10 | 0.12 | -16.67 | 0.11 | -9.09 |
| Galvanized Steel | 0.05 | 0.06 | -16.67 | 0.12 | -58.33 |
| CRC | 0.05 | 0.08 | -37.50 | 0.06 | -16.67 |
| Others | 0.01 | 0.01 | 0.00 | 0.01 | 0.00 |
| Grand Total | 0.44 | 0.57 | -22% | 0.66 | -33% |
Source-SteelMint Research
Country-Wise Turkey Flat Steel Imports in Aug’18 – Russia stood as a major flat steel exporter and has procured 0.12 MnT of flat steel in Aug’18 fell by 14% as compared to 0.14 MnT in Jul’18.
Secondly,Ukraine exported 0.07 MnT fell significantly against 0.04 MnT in previous month
Followed by France at 0.04 MnT and South Korea at 0.6 MnT in Aug’18.
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