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  • Turkey raises steel exports in 2018 by 21% despite trade barriers, ÇIB says

    The Turkish steel industry managed to increase its export volumes in 2018 despite the creation of international trade barriers that had a huge effect on the market, the Turkish Steel Exporters’ Assn (ÇIB) told Fastmarkets on Friday February 22. There were barriers, including increased US steel import tariffs and EU safeguards for steel products imports, despite Turkey's growing barriers to exports.


    Turkey increased its steel exports by 20.80% year-on-year to 21.40 million tonnes in the full year of 2018, while the value of those exports rose by 36.10% year-on-year to $15.60 billion thanks to rising steel prices, according to the association. During the year, however, the European Commission imposed safeguarding quotas on steel exports from Turkey, while the United States doubled its Section 232 import tariffs on Turkey-origin materials, to 50% from 25%. As a result, Turkey’s steel export volumes into the US fell sharply in 2018. But the president of the ÇIB, Adnan Aslan, said that this was compensated by increased exports into Asia.

    Turkey’s exports into the US fell by 15.10% year-on-year to 1.90 million tonnes, while its exports to other parts of the Middle East fell by 6% year-on-year to 3.80 million tonnes, according to the association. The Turkish steel industry faced major losses in certain markets due to protectionist measures, but it managed to create new markets and increased its exports in other existing markets, Aslan said. “2018 was a tough year but there has been some serious interest in Asian markets for Turkish steel,” he said. “We increased our exports into Asia by 34.80% year-on-year to 1.70 million tonnes [and] we have opened new markets such as the Philippines and Sri Lanka.”

    The protectionist trend was likely to continue in 2019, Aslan believed, while China will continue the aggressive export policy it showed in 2018, which could make things hard for Turkish exporters in the first half of this year. The Section 232 tariffs imposed by the US are still at 50% for Turkey, while the EU’s safeguard quotas will be in place throughout 2019 and beyond. Chinese steel mills will be more aggressive in 2019, because that country’s domestic market is shrinking, Aslan said. China exported only 75 million tonnes of steel products in 2018, from a total output of 900 million tonnes, he added.

    Finding new export markets will be one of the most important targets for the Turkish steel sector in 2019, Aslan said. In this context, Southeast Asia, West Africa and Latin America will be very important. “We will start more than one URGE project for sub-sectors, and organize trade delegations to the regions in which our export volumes are below what we expect,” he explained. “With these trade delegations, we plan to meet new buyers and export Turkish steel to more countries. We will also attend prominent conferences and fairs in the EU, the USA and the Middle East-North Africa [Mena] region.” The International Competition Development Project (URGE) has been organized by the ÇIB to look for ways to increase Turkey’s exports and to understand the structural deficiencies that prevent such increases being achieved.

    metal bulletin

     

  • TURKEY FERROUS SCRAP/ Dometic prices fall with lower import values

    Turkish domestic scrap prices have gone down over the past week in line with the downturn in imported scrap values, sources said on Monday February 25. After the raw materials prices dropped in the global markets, scrap prices also fell, and as a result, Turkey's scrap fell on the domestic market. We saw declines in scrap indicators in different markets.


    Fastmarkets’ weekly price assessment on Monday for domestic auto bundle (DKP-grade) scrap in Turkey was TRY1,630-1,820 ($306-342) per tonne delivered, widening downward from the TRY1,680-1,820 per tonne of last week. A number of steel mills and a major scrapyard in Izmir reduced their buy prices for the material by TRY35-70 per tonne last week. Long steel producer IDÇ cut its buy price for auto bundle scrap to TRY1,630 per tonne, while fellow steel mills Ege Çelik and Özkan decreased their prices to TRY1,765 per tonne and TRY1,710 per tonne delivered respectively.

    Scrap yard Kiliçlar Hurda, in Izmir, decreased its buy price for the same material to TRY1,710 per tonne delivered. Three steel mills also cut their ship scrap prices by $10 per tonne to $325 per tonne, while only one kept its price unchanged at $340 per tonne delivered. As a result, Fastmarkets’ weekly price assessment for Turkish domestic melting scrap from shipbreaking widened downward to $325-340 per tonne delivered on February 25, compared with $335-340 per tonne last week. The daily index for Northern Europe-origin HMS 1&2 (80:20) was $304.96 per tonne cfr on February 22, down from $324.29 per tonne on February 15.

    metal bulletin

     

     

  • TURKEY STEEL BILLET/ Prices fall on Egyptian duties, downturn in scrap costs

    Imported and domestic prices for steel billet in Turkey have gone down slightly over the past week, while export prices were stable, sources said on Thursday April 18. These changes in prices have also been affected by the imposition of additional Egyptian tariffs.


    Suppliers in the Commonwealth of Independent States (CIS) lowered their offers to $445-450 per tonne cfr, while some material from eastern Ukraine was offered at prices as low as $435 per tonne. But Turkish customers were bidding around $435 per tonne cfr, because there were already rumors of sales done at $435-437 per tonne, Fastmarkets was told. Fastmarkets’ weekly price assessment for billet imports into Turkey was $435-445 per tonne cfr on April 18, down from the $450-455 per tonne of last week.

    *** Domestic billet prices

    Domestic billet prices also fell slightly to $450-455 per tonne ex-works. Fastmarkets’ weekly price assessment for domestic billet in Turkey was $450-455 per tonne ex-works, narrowing downward from $450-460 per tonne last week. The main reasons for the decrease in the prices were the downturn in Turkish scrap import values and news of Egypt imposing temporary duties on billet and rebar imports. “After Egypt imposed duties on billet imports, there have been - and will be - cargoes canceled that were previously sold. This means lower prices for billet in the short term,” a Turkish source said.

    In the meantime, billet export prices were stable over the week, with little activity heard in the market. Fastmarkets’ weekly price assessment for billet exports out of Turkey was unchanged week on week at $450-455 per tonne fob.

    metal bulletin

     

  • Turkey terminates steel imports investigation with no new duties

    No additional duties or other measures will be imposed after the conclusion of the investigation.

    The probe was begun in April 2018, and considered imports from all origins of flat, long and stainless steel, along with steel tube & pipe product imports.

    The investigation started after the United States announced its regime of import tariffs under its Section 232 trade legislation, because Turkey feared that it would become an open market for material that could no longer find a market in the US.

    The US imposed 25% duty on steel imports in March 2018, but in August it doubled the duty on Turkish-origin steel to 50%.

    Turkey’s ministry of trade announced in the Official Gazette that import volumes of the products under investigation did not increase significantly during the period under scrutiny, and that the imports did not cause any harm to local production.

    The probe started in April 2018 and was scheduled to last for nine months. But it was extended by four months, and its termination was announced on May 7. The ministry did not publish any further details.

    Turkey’s domestic market has been suffering since the doubling of the US tariff, and trade relations between the countries have soured.

    Turkey imported 1,460,106 tonnes of flat steel in January-March 2019, 22.11% less than the 1,874,458 tonnes imported in the same period of 2018, according to the Turkish Statistical Institute (TUIK).

    Reference: metal bulletin

     

  • Assessment of international steel trading

    CIS billets prices fell to $ 416.5 a barrel, while suppliers are trying to compete with Turkish prices to export to Saudi Arabia.

    Saudi Arabia bought a large shipment of CHF 445 for a CFR of Jeddah equivalent to $ 420 for FOB Turkey, while demand for BILT CIS from Egypt and Egypt is low, and Saudi Arabia needs a low domestic scrap with a price of $ 347. Imports Billet.

    The price of imported scrap from Turkey is less than $ 290, which has fallen by $ 10, but the margin of profit for steel makers is still negligible.

    The price of CIS slabs fell to $ 450 a barrel of $ 4bn Black Sea Foob, with demand weakness in Turkey and Europe, as well as falling flat product prices. Although Russia and Ukraine did not make a serious proposal for July.

     

    *** Production of slabs on the agenda of the steelmakers in Turkey


    The elections in Turkey and the depreciation of the lira along with the drop in the price of imported scrap have led Turkish steelmakers to prefer slab production to its imports.

    However, due to Ramadan, barley transactions have been limited, but the export of 40,000 tonnes of rebar from Oman to Saudi Arabia for $ 587 was delivered to the customer, while Saudi Arabia's rebate for rebar is $ 640 per tonne. The UAE also offers rebar at $ 517 to $ 546 at the factory.

    Indian billet is offered to Emirates $ 450 Jebel Ali, while Target and target buyers are $ 440. Billet CIS offers $ 450 to $ 455 CFR.

    Turkey's exports to Turkey increased by 213,000 tonnes in March. Yemen, the largest buyer in Turkey, has 49,500 tons and Europe 36,000 tons, while the United States has 12,000 tons of Turkish imports. Peru, Panama and Romania are other export destinations of Turkey.

    The price of a hot plate in the CIS is around $ 480, and a cold crunch of $ 540, and there is a likely drop in prices in July.

    In China, export prices have dropped slightly, and after declaring US tariffs, buyers are asking for lower prices.

    Exporters of Indian pellets predict that the price of pellets in June was $ 128 to $ 130, while the last deals were $ 64 per barrel of $ 126.

    The demand for Indian pellets from China continues, and the Essel Mining plant will add one million tons of cadmium 65 capacity to below 2 percent alumina by the end of this year.

    Indians use Brazil and South Africa to produce low-almond pellets, and recently Kiocl has contracted to sell 500,000 tons of billets to the United Arab Emirates.

     

    Keyvan Jafari Tehrani

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  • TURKEY FLAT STEEL: Weak raw materials prices pressure domestic, export HRC assessments lower

    Some flat steel prices fell in Turkey during the week ending Friday January 17, following weakening scrap prices.

  • TURKEY LONG STEEL: Falling scrap costs drag down domestic prices

    Domestic prices for rebar and wire rod in Turkey have gone down over the past week amid lower imported scrap values and limited winter demand, sources said on Thursday January 23.

  • TURKEY FLAT STEEL: Import prices up but sources expect price falls

    Imported flat steel prices increased in Turkey during the week to Friday January 24, but buyers are expecting prices to fall amid weakening scrap prices, Fastmarkets was told.

  • TURKEY FLAT STEEL: Prices mostly stable, demand improves

    Hot-rolled and cold-rolled coil prices were mostly stable in Turkey in the week to Friday February 14, with demand improving because stock levels are low across the country.

  • TURKEY COATED FLAT STEEL: Prices stable, demand improving

    Turkish domestic prices for hot-dipped galvanized coil (HDG) and color-coated coil were stable amid moderate demand in the week to Friday February 14, sources told Fastmarkets.

  • GLOBAL BILLET WRAP: Offers rise amid higher scrap costs but buyers remain wary

    Most of the global markets for steel billet showed low activity in the week ended Friday February 14, but offer prices from the main producing regions still increased, amid higher costs for scrap raw material and weak demand for semi-finished steel products.

  • WEEKLY SCRAP WRAP: Turkish prices rebound, Asian buyers enjoy low Japanese prices

    Ferrous scrap prices in Turkey rebounded on an improvement in demand from the country’s steel mills during the working week ended Friday February 14. The upturn in Turkish prices sparked a recovery in the Indian markets, while prices in the United States were set to follow.

  • TURKEY FLAT STEEL: Prices stable, demand moderate

    Flat steel prices were stable in Turkey in the week to Friday March 6, with only limited demand, sources told Fastmarkets.

  • WEEKLY SCRAP WRAP: More price drops expected amid weakening sentiment

    Global ferrous scrap prices dropped again during the week to Friday March 20, with the spread of the novel coronavirus (2019-nCoV) continuing to weigh on markets and squeeze demand from steel mills.

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