Notably higher buying interest from the European Union, particularly from Spain, supported Turkey’s coated coil export volumes over the first eleven months of the year.
Turkish mills exported 1.15 million mt of coated coils in January-November, 29% higher year on year, according to the latest Turkish Statistical Institute (TUIK) data sent to S&P Global Platts.
However, Turkey’s shipments to the US — its main coated coil export destination in previous years — totaled 116,000 mt in January-November, sharply lower than the 300,000 mt exported in 2017 amid doubled US Section 232 tariffs against Turkey effective mid-August 2018.
Spain became Turkey’s main buyer in the period, importing 142,500 mt of coated coils, more than double on year. Greece also bought 91,000 mt of Turkish coated coil in the eleven-month period, sharply higher than the 40,000 mt total in the same period last year.
Turkey’s coated coil exports to the UK reached 95,000 mt through November, while shipments to Canada totaled 88,000 mt.
Turkish mills shipped 60,000 mt of HRC to Belgium in the eleven-month period, while exports to Bulgaria reached 48,000 mt. Turkey’s other significant coated coil buyers in January-November were: Israel (44,000 mt), Italy (42,000 mt), Portugal (40,000 mt), Iraq (39,000 mt), Egypt (38,000 mt) and Romania (36,000 mt), the latest data showed.
Turkish mills’ domestic and export coated coil export pricing, which was under pressure in the last months of the year due to slowed EU demand and sluggish domestic market sentiment, meanwhile began to recover this week (see other story).
— Cenk Can
