Turkish exports of coated coil in widths of 600 mm and above in the first five months of 2023 fell 50% year on year to 342,500 mt, hit by antidumping duties imposed by the European Commission and low demand in most main export markets, including the US.
The EC last August announced antidumping duties on hot-dip galvanized steel coil and sheet imports from Russia and Turkey for five years.
Turkish HDG exports are subject to anti-dumping duties of 10.5% for MMK Metalurji, 2.4% for Tatmetal, and 11% for all other steel companies.
According to Turkish Statistical Institute data, exports to only Romania remained strong year on year in over January-May at 61,000 mt, after rising 1.5%, while shipments to other EU countries remained affected by the duty.
One of the sharpest declines was seen in shipments to Spain, which was Turkey’s second top export destination a year ago with 80,300 mt. Turkish mills shipped only 11,200 mt of coated coil to that country in January-May, while exports to Italy declined 70% to 10,400 mt.
Exports to Greece declined 42% to 25,700 mt, while shipments to Bulgaria totaled 21,000 mt, down 28%
One of the sharpest decline was seen in exports to the US with shipments slumping to 11,000 mt from 137,000 mt a year ago.
Turkish mills’ shipments to Canada fell 10% to 26,600 mt, while Ukraine became one of Turkey’s top export destinations with 36,000 mt in the five-month period, up 56%.
Platts, part of S&P Global Commodity Insights, last assessed the weekly Turkish HDG price at $840/mt ex-works July 14, down 2.9% week on week.
Author Cenk Can