Turkey’s flat steel import volumes decreased by 11.98% year on year in January 2021, according to the latest statistics from the Turkish Statistical Institute (TUIK).
The country imported 637,818 tonnes of flat steel in January this year, compared with 724,601 tonnes a year ago.
The main reason for decreasing imports was weak demand for imported steel in October 2020, when some of the bookings for January 2021 were placed.
Offsetting this were several bookings placed in November, some of which arrived Turkey in January 2021.
In addition, the country’s flat steel imports had risen by 45.65% year on year in January 2020 from 497,487 tonnes in the same month of 2019, meaning import volumes at the start of this year were still higher than in January 2019.
Demand for flat steel in Turkey was slow to moderate in January 2021 compared with December 2020, with producers in Turkey fully booked until late April.
Demand was less compared with that in December 2020 because of price corrections at the start of this year.
Since then, demand has strengthened in the domestic, export and import markets because of low stock levels and increasing prices.
Fastmarkets’ weekly price assessment for hot-rolled coil imports into Turkey was at $750-770 per tonne cfr on February 26, rising from $715-740 per tonne on February 19.
Fastmarkets’ weekly price assessment for Turkish cold-rolled coil imports was $870-880 per tonne cfr, rising from $800-840 per tonne on the same dates.
The main reason for decreasing imports was weak demand for imported steel in October 2020, when some of the bookings for January 2021 were placed.
Offsetting this were several bookings placed in November, some of which arrived Turkey in January 2021.
In addition, the country’s flat steel imports had risen by 45.65% year on year in January 2020 from 497,487 tonnes in the same month of 2019, meaning import volumes at the start of this year were still higher than in January 2019.
Demand for flat steel in Turkey was slow to moderate in January 2021 compared with December 2020, with producers in Turkey fully booked until late April.
Demand was less compared with that in December 2020 because of price corrections at the start of this year.
Since then, demand has strengthened in the domestic, export and import markets because of low stock levels and increasing prices.
Fastmarkets’ weekly price assessment for hot-rolled coil imports into Turkey was at $750-770 per tonne cfr on February 26, rising from $715-740 per tonne on February 19.
Fastmarkets’ weekly price assessment for Turkish cold-rolled coil imports was $870-880 per tonne cfr, rising from $800-840 per tonne on the same dates.
*** Suppliers to Turkey
Russia supplied 136,289 tonnes of the total hot-rolled flat steel volumes arriving in Turkey in January, according to TUIK, followed by Ukraine, which supplied 133,438 tonnes and Japan, which shipped 52,992 tonnes.
Russia was also the biggest cold-rolled flat steel supplier, shipping 47,991 tonnes to Turkey, while South Korea ranked second at 4,358 tonnes.
Turkey imported 19,302 tonnes of coated steel from South Korea and 6,293 tonnes from Belgium.
The main suppliers for alloy flat steel in widths exceeding 600mm were France at 24,295 tonnes, and South Korea at 14,338 tonnes.
Russia was also the biggest cold-rolled flat steel supplier, shipping 47,991 tonnes to Turkey, while South Korea ranked second at 4,358 tonnes.
Turkey imported 19,302 tonnes of coated steel from South Korea and 6,293 tonnes from Belgium.
The main suppliers for alloy flat steel in widths exceeding 600mm were France at 24,295 tonnes, and South Korea at 14,338 tonnes.
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