India sells 120,000 mt of HRC to Turkey in a month with competitive prices

The gap between domestic mills’ and imported hot-rolled coil prices has remained wide in Turkey, despite recent declines seen in domestic mill offer prices, Turkish buyers have focused on cheaper imports in recent months.

According to the latest monthly Turkish Statistical Institute data observed by Platts, Indian mills, which were not traditionally one of Turkey’s HRC suppliers, sold significant HRC tonnages to Turkey with competitive prices again in July.

Turkish buyers imported 120,000 mt of HRC from India in July, although no HRC cargo was imported from India in the same month the previous year.

Turkish buyers’ imports of HRC from CIS countries, which are traditionally Turkey’s largest HRC suppliers, also remained strong year on year in July, the latest TUIK data showed.

HRC imports from Russia reached 167,400 mt in that month, stable on year, while imports from Ukraine jumped on year to 50,100 mt, more than double on year.

Turkish buyers’ imports from Asian suppliers also rose in July. Turkish buyers’ HRC imports from Japan reached 60,500 mt in that month, sharply up from 14,200 mt imported from that country in the same month the previous year, while imports from South Korea roughly tripled on year to 34,100 mt. Turkish buyers also imported 27,100 mt of HRC from China in July.

HRC imports from one of Turkey’s traditional European suppliers, France, totaled 18,600 mt in July, sharply down from 71,800 mt imported in July 2020, while Turkish buyers HRC imports from other European suppliers remained notably low year on year.

Turkey’s overall HRC imports thus totaled 524,500 mt in July, higher than 439,800 mt imported in the same month the previous year, Platts observed from the latest TUIK data.

— Cenk Can