Egypt becomes Turkey’s main HRC export market in July

As demand from South Europe, which showed a significant recovery in June, slowed in July amid volume quotas, Turkish mills’ hot-rolled coil imports were around 70,000 mt lower than the previous month at 286,000 mt. This export figure was, however, 4.8% higher on year.

Quotas have been restricting Turkish steel exports to Europe in recent months. Turkish mills’ 2020 exports to the EU are expected fall by around 30% from 2019. As the European Commission has also launched anti-dumping and countervailing duty investigations into imports of certain hot-rolled flat products from Turkey, following a request by European steel association Eurofer, the cautiousness among European buyers has increased in recent weeks.

Egypt became Turkey’s main HRC export market in July, amid slower demand from Europe. Shipments to Egypt reached 89,200 mt, roughly triple on year and significantly higher than the 4,400 mt exported in the previous month.

Spain was Turkey’s second largest HRC export destination in July at 46,300 mt, lower than 56,200 mt exported in the previous month, while exports to Italy totaled 37,350 mt, significantly lower than 145,000 mt exported in June 2020.

Turkish mills also exported 28,100 mt of HRC to Bulgaria in July, while exports to Iraq totaled 16,700 mt.

Turkey’s other main HRC export destinations in that month were: Algeria (11,100 mt) and Belgium (10,300 mt), the latest data showed.

— Cenk Can