Turkish H1, 2022 HRC exports fall on lower EU demand

Turkish exports of hot-rolled coils fell 7% year on year to 1.02 million mt in the first half of 2022 due to lower demand from the EU region, according to the latest Turkish Statistical Institute data.

Egypt was the main export destination in H1 2022 at 190,900 mt, up from just 13,500 mt, a year ago.

Italy received 133,500 mt of the exports during the period, down from 287,500 mt, a year ago, while outflows to Spain dropped to 26,000 mt, from 150,000 mt in H1 2021.

Exports to other EU countries remained low due to an anti-dumping duty on HRC flows from Turkey and lower demand. That also led the Turkish domestic market to become sluggish, with HRC price falling in recent weeks.

Turkish exported HRC was assessed at $620/mt FOB Aug. 5, according to S&P Global Commodity Insights data, representing a $600/mt decline compared with mid-March prices.

Turkey’s other HRC export markets in H1, 2022 were Bulgaria at 77,500 mt, Greece at 68,000 mt, Iraq at 61,000 mt, Tunisia at 47,000 mt and Albania at 44,000 mt.

— Cenk Can