As higher demand from the US and some EU countries continued to support Turkish mills’ hot-rolled coil export volumes in September, Turkish mill exports of HRC totaled 317,800 mt in that month, 31% higher on year, S&P Global Platts observed from the latest monthly Turkish Statistical Institute (TUIK) data.
As prices in the US market stood notably above other market prices, US buyers booked notable hot-rolled coil tonnages from Turkey again in September, and this country became Turkey’s one of Turkey’s top HRC market with 62,500 mt in that month, tenfold higher year on year.
Turkish mills’ nine-months HRC exports to the US totaled 291,500 mt, sharply up from 14,300 mt exported in January-September 2020. However, taking into account that this country was one of Turkey’s top HRC markets, importing more than 500,000 mt per year before the Section 232 tariffs, it could still be considered a low figure.
The deal that the US and EU reached on Oct. 30 to replace the Section 232 metals tariffs with a tariff-rate quota on imports from the EU, could also harm Turkish steel exports to the US in the coming months, Ugur Dalbeler, VP of the Turkish Steel Exporters’ Union (CIB) and CEO of major Turkish steelmaker Colakoglu told Platts.
Turkish mills’ HRC exports to some EU countries also remained relatively strong year on year in September.
Despite a 10,000 mt on-year decline, Italy became Turkey’s top HRC market in September with 79,000 mt, while Turkish mills HRC shipments to Belgium reached 60,450 mt in that month, although no notable HRC cargo was shipped to that country in the same period the previous year.
Spain bought 35,000 mt of Turkish HRC in September, more than sixfold higher on year, while shipments to Canada reached 25,300 mt, compared to zero in September 2020.
Turkish mills also shipped 10,300 mt of HRC to the UK in September, the latest data showed.
— Cenk Can