Turkish HRC exports to US surge despite tariffs
Turkish hot rolled flat product exports under HS code heading 7208 ballooned 131% on-year in July to 445,385 tonnes, according to Turkish Statistical Institute (TUIK) data monitored by Kallanish. The average value of these exports was $623.9/tonne versus $529.9/t in July 2017.
Exports of HR unpickled wide strip under 3mm thick accounted for 167,369t, up 134%. Italy increased intake 261% to 71,971t, while the US and United Arab Emirates took in 16,120t and 13,258t respectively versus zero each in July 2017.
Shipments abroad of HR unpickled wide strip of 4.75-10mm thickness comprised 94,671t, up 164%. Italy increased intake four-fold to 27,596t, while the US took in 16,226t versus zero last year, and intake from Belgium almost doubled to 15,736t.
Exports of HR unpickled wide strip of 3-4.75mm thickness accounted for 84,313t, just over double versus last year. This was mainly due to the US taking in 23,585t versus zero last year.
In January-July Turkish HR flats exports thus grew 34% on-year to 2.2 million tonnes.
Intake of the most-imported product, unpickled wide strip under 3mm thick, rose 25% to 788,809t. Italy, Spain and Portugal were the main markets. Italy more than doubled intake to 390,411t, Spanish sourcing inched down -1% to 146,457t and shipments to Portugal surged 62% to 46,413t. The US followed in fourth place with 37,904t, up 175%.
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Anonymous
Very good overview of the weekly steel market.
Anonymous