Turkey’s coated steel coil exports, most of them hot-dip galvanized coil, were 10% lower year on year at 868,800 mt in the first half of 2022, as demand from the EU fell substantially, according to Turkish Statistical Institute data.
HDG exports to Spain fell 53% year on year to 123,500 mt in H1 and exports to Greece fell 18% to 53,300 mt, although Romania imported 73,000 mt, up 38%.
Turkey’s other EU export destinations were Italy at 50,200 mt, down 50% year on year, Portugal at 40,000 mt, down 37%, and Bulgaria at 34,500 mt, up 5%.
Amid low EU demand, coated coil exports to the US rose to 99,000 mt, up from 33,000 mt a year ago.
Other export destinations were Canada at 47,500 mt and Egypt at 31,300 mt.
The total revenue generated from the overall exports rose 23% on the year to $1.15 billion in H1, amid higher global steel prices, according to the data.
Due to the collapse of the CIS raw materials supply chain, Turkish mills’ HDG prices exceeded $1,400/mt in mid-March, but have declined since April on low demand and lower HRC prices, with Turkish domestic HDG was assessed at $790/mt EXW Aug. 12, according to S&P Global data.
Looking ahead, with the European Commission imposing antidumping duties on HDG steel coils and sheets imports from Russia and Turkey for five years from Aug. 12, exports to the EU could fall further in the coming months, industry sources said.
The antidumping duties are 10.5% for MMK Metalurji, 2.4% for Tatmetal, and 11.0% for all other companies, including Tezcan.
— Cenk Can
