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Turkey: Finish Long Steel Exports Nearly 6-year High in October

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Finish long

BigMint Bureau

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8 Dec 2018, 12:53 IST

Turkey: Finish Long Steel Exports Nearly 6-year High in October

Finish long steel exports from Turkey moved up by 23% M-o-M and stood at close to 6 years (70 months) high in Oct'18, as per data retained by SteelMint.

As per custom data, the nation has exported about 1.08 MnT Finish long steel in Oct'18, which has been surge to all time high since Jan 2013 and figures surge by 22.72% against 0.88 MnT in Sep'18. In line Y-o-Y basis, exports have been elongated by 68.75% against 0.64 MnT in Oct'17.

The export has moved up in line with suffice proportionate and also first healthier shipment to Hong Kong which was about 0.20 MnT in Oct'18, resulted boost in country's finished steel exports. However since the beginning of 2018 to till September, there was nil exports to Hong Kong from Turkey.

Under Finish Long commodities following HS Codes has been considered - Bar & Rod (HS Code 7213 & 7214), MS Wire (HS Code 7217) along with Angle & Shapes (HS Code 7215 & 7216).

Sub-Commodity Wise - Rebar appeared with major share in exports and reported at 0.95 MnT in Oct'18 against 0.74 MnT in Sep'18; up by 28.37% followed by Structure at 0.11 MnT in Oct'18 and lastly Wire rod at 0.03 MnT in Oct'18 which is unchanged M-o-M respectively.

Country Wise - In Oct'18, the major exports of Finish Long Steel registered to Hong Kong - 0.20 MnT followed by Israel - 0.13 MnT up by 30% against 0.10 MnT in Sep'18 and Singapore stood at 0.09 MnT decreased by 43.75% against 0.16 MnT in Sep'18.

Import

As per the custom data, the nation has imported about 53,533 MT Finish long steel in Oct'18 against 47,588 MT in Sep'18, surge by 12.49% M-o-M. On Contrary Y-o-Y basis, exports have been diminished by 44% against 95,736 MT in Oct'17.

Updates

-- Imported scrap offers in Turkey assessed at USD 308/MT CNF for HMS 80:20, USA Origin, as per last assessment.

-- As per sources, Turkey's Rebar export offers is presently about USD 475-480/MT & Wire rod (mesh quality) at USD 495-500/MT FOB.

-- Turkey's billet imports plunged by around 62% M-o-M in Oct'18 & recorded the lowest volume since May 2012. The nation has imported about 148,906 MT Billet in Oct'18 against 393,774 MT in Sep'18, down by 62.19% on monthly premises.