Exports of hot rolled coil from Turkey declined again in July, keeping seven-month volumes down on-year. July dispatches were booked in April amid declining prices on low demand as Covid-19 restrictions were peaking around the world.
Turkish HRC export prices bottomed at $395/tonne ex-works in early May, before they started their current ascent, Kallanish notes.
Turkey’s exports of hot rolled flat products under HS code 7208 totalled 290,862 tonnes in July, -18.6% down on June, but 8.1% up on July 2019. January-July exports declined -15% on-year to 1.84mt, show Turkish Statistical Institute (TUIK) data.
July shipments of the most-exported product, hot rolled strip up to 3mm thickness under HS code 720839, remained flat on-month at 121,891t, but were down -13.2% on-year. Seven-month exports declined -17.4% on-year to 707,642t.
July saw Egypt’s intake of 47,133t, the highest in the last two years, making it the top importer, followed by Italy with 23,118t, and Bulgaria and Spain with 13,774t and 13,271t, respectively. Egypt’s July intake was 20 times June volumes, and double July 2019 volumes. Italy’s intake fell by more than half on-month but was flat on-year. Bulgarian intake was flat from June and it did not import from Turkey in July 2019. Spain also kept imports flat on-month but increased intake 32% on-year.
Exports of 3-4.75mm HRC (HS code 720838) declined significantly on-month in July. At 44,504t, they were less than half of June exports and -4.6% down on-year. Italy took 12,529t, four times less than the previous month and -25.6% down on-year. Egypt’s 12,256t was an exponential increase on the 257t imported in June, and almost seven times July 2019 volumes.
Exports of 4.75-10mm strip/plate (HS code 720837) also fell considerably on-month in July, but remained stable on-year. Turkey dispatched 37,703t, nearly half of June tonnages, but 4% up on-year. Yet again, Egypt took the most, 18,312t, having not imported any in June, and scarcely any in July 2019. Belgium followed with 6,500t and Bulgaria with 5,483t.
