Aug’18: Turkey Billet Imports from Russia Decline
Billet Imports in Turkey plunged by around 15% M-o-M in Aug’18 & recorded four-months low, as per the recent released data by Turkey's custom showed.
The key attributes also shows that demand for billet in the Turkish domestic market was declining over weak finished market amid slowdown in the construction sector.
As per the customs, the nation has imported about 235,872 MT Billet in August 2018 against 278,071 MT in July 2018, drifted by 15.17% on monthly premises. While on yearly basis, imports have remained at same level & stood at 235,669 MT in August 2017.
In the month of August 2018,Turkey’s monthly crude steel production decline by 7.36% & stood at 2,999,634 MT and in July it was approximately 3,266,497 MT. Meanwhile, in CY17 the figure of crude steel production stood at 37,331,377 MT, & 33,163,131 MT in CY16.
Billet Imports from Russia & Ukraine decline
Russia stands out to be the largest billet exporter to Turkey, exporting 145,325 MT in Aug’18, followed by Ukraine (38,692 MT), Netherlands (30,469 MT) & Italy (11,099 MT).
Further in the month of Aug’18, the billet exports by Russia to Turkey decline by around 8.17% on monthly basis against 158,264 MT in Jul’18. Inline, imports from Ukraine also decline by 15.15% M-o-M.
Turkish billet imports was 4-month, as billet exports from Russia & Ukraine decline by around 42% & 60% since March 2018.
During Jan-Aug’18, Russia has exported approximately 48.23% billet (1,653,071 MT) to the nation, followed by Ukraine (714,397 MT) & Brazil (451,726 MT). Prior to this in the same preceding last year, Russia’s billet export to the nation was around 1,060,796 MT, surge almost 55% on yearly basis. While in CY 2018 (Jan-Aug) the Turkey’s billet import was around 3,427,225 MT & 2,849,454 MT in CY17 (Jan-Aug).
Key Updates
-- The reference index price for US origin HMS (80:20) scrap stood at USD 324/MT, CFR Turkey.
-- Billet offers from CIS nations for Turkey are assessed at USD 475-485/MT CNF Turkey , as per our last assessment.
-- Turkey scrap imports rise 12.9% Y-o-Y during Jan-Aug’18 & stood at 14,547,454 MT as against 12,889,657 MT ferrous scrap imports in Jan-Aug’17.
-- Turkey’s iron ore imports recorded at 1,076,425 MT in Aug'18, down by 11.8% M-o-M as against 1,220,691 MT in July'18.
source: SteelMint
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