July'18: Turkey Billet Imports Drop to 3-Month Low

Billet Imports in Turkey drifted three-months low & fall by around 17% M-o-M in Jul'18 as per the recent released data by Turkey's custom showed.

As per the customs, the nation has imported about 278,071 MT Billet in July 2018 against 335,490 MT in June 2018, plunged by 17.11% on monthly premises. While on yearly basis, imports have seen sharp decline of 41% against 472,866 MT in July 2017.

The key attributes shows that rise in scrap imports on competitive prices, than the higher billet offers amid rise in crude steel production in July resulting fall in billet imports to the nation. Turkey has imported 1,905,751 MT ferrous scrap in Jul'18, up 4% M-o-M as against 1,832,547 MT imports noted in Jun'18.

During Jan-Jul'18, Russia has exported approximately 47.24% billet (1,507,746 MT) to the nation, followed by Ukraine (675,705 MT) & Brazil (451,554 MT). Prior to this in the same preceding last year, Russia's billet export to the nation was around 1,029,266 MT, surge almost 46% on yearly basis. While in CY 2017 (Jan-Dec) the Turkey's billet import was around 4,639,603 MT.

In the month of July 2018,Turkey's monthly crude steel production surge by 7.36% & stood at 3,266,497 MT and in June it was approximately 3,042,980 MT. Meanwhile, in CY17 the figure of crude steel production stood at 37,331,377 MT, & 33,163,131 MT in CY16.

Key Updates

-- The reference index price for US origin HMS (80:20) scrap stood at USD 320/MT, CFR Turkey.

-- Billet offers from CIS nations for Turkey are assessed at USD 485-490/MT CNF Turkey , as per our last assessment.

-- Turkey scrap imports rise 12% Y-o-Y during Jan-Jul'18 & stood at 12.66 MnT as against 11.32 MnT ferrous scrap imports in Jan-Jul'17.

-- Turkey's iron ore imports recorded at 1.22 MnT in July'18, up by two folds as against 0.61 MnT in June'18.