Turkey’s February coated coil exports soar on EU demand

Higher demand from the EU, particularly from Italy and Spain, continued to support Turkey’s coated coil export volumes in the second month of 2019. Turkish producers exported 150,000 mt of coated coils in February, more than double year on year, and higher than the 123,000 mt exported in the first month of the year.

Turkish coated coil producers shipped 1.33 million mt in 2018, 35% higher year on year, on notably higher south European demand, as Platts has reported.

According to the latest Turkish Statistical Institute (TUIK) data sent to S&P Global Platts, Italy became Turkey’s main buyer in February, importing 40,000 mt of coated coils, while Turkey’s coated coil exports to Spain totaled 18,800 mt in that month.

Turkish mills shipped 14,500 mt of coated coil to Greece in February, while exports to Canada totaled 13,880 mt. Turkey’s other main coated coil buyers in February were: the UK (8,800 mt), Belgium (6,400 mt), Iraq (6,100 mt), Israel (5,000 mt) and Egypt (4,700 mt), the latest data showed.

Turkey’s shipments to the US — its main coated coil export destination in previous years — remained at zero again in February, due to the doubled US Section 232 tariffs against Turkish steel, made effective in mid-August 2018.

Turkish mills’ domestic and export coated coil pricing, meanwhile fell further this week, on low demand and stiff competition in the EU market (see other story).

— Cenk Can