Turkey’s imports of hot-rolled coil fell 6% year on year to 2.58 million mt in the first half of 2022, due to low demand and decline seen in imports from the CIS region and some EU countries, according to the latest Turkish Statistical Institute, or TUIK, data sent to S&P Global Commodity Insights.
However, imports from some Asian suppliers rose in January-June, with India supplying 500,000 mt, up 150% on the year.
South Korea shipped 178,000 mt of HRC to Turkey in H1, up 70,000 mt on the year, while Japan exported 168,500 mt, down 18.5%.
Imports from Russia fell notable to 440,000 mt, down from 1.1 million mt in H1 2021. Imports from Ukraine also dropped to 230,000 mt in H1, down from 666,000 mt a year ago.
Turkish HRC prices topped $1,200/mt in mid-March amid availability issues, but have declined since on slowed demand and low-priced HRC import offers to Turkey.
Turkish domestic HRC was assessed at $670/mt ex-works July 29, according to S&P Global data.
According to the latest TUIK data, France sent 145,000 mt of HRC in H1, relatively stable on the year, while imports from other EU countries remained low. Brazil shipped 135,000 mt to Turkey in H1, compared to none a year ago, while other HRC suppliers were the UK at 123,000 mt and Romania at 96,000 mt.
— Cenk Can