Turkey: Finish Long Steel Exports Rally
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Turkey's Finish Long Steel exports surge by 65.21% M-o-M in May'19, as per fresh released data by custom department.
Turkey registered its finish long steel exports at 1.14 MnT in May'19, up by 65.21% against 0.69 MnT in Apr'19. Also, on yearly basis, exports rose by 78.12% as compared to previous year i.e. 0.64 MnT in May'18.
The exports have been rallying in monthly comparison and major surge in exports were registered for Yemen at 0.11 MnT in May'19, increase by 120% against 0.05 MnT in Apr'19, followed by Netherland at 0.08 MnT in May'19 which has been notified with no import volume in previous month and Singapore at 0.06 MnT (+500%).
It was learned from few reports, that Netherlands is attracting FDI (Foreign Direct Investment) ranking 4th best in Europe after the United Kingdom, Germany and France, according to the interim Global Location Trends report published by IBM. As Brexit Step make financial institutions to move for new opportunity considerable Netherlands.
Commodity wise- Rebar exports registered at 0.95 MnT in May'19 enlarged by 90% in comparison to 0.50 MnT in Apr'19 followed by Structure (Angles & shapes) - 0.16 MnT in May'19 down by 11.11% as against 0.18 MnT in Apr'19 & Wire rod remain stable with 0.02 MnT in May'19 against previous month.
Finished Flat Steel
Country's Finish flat steel exports registered at 0.58 MnT in May'19 declined by around 8% as compared to 0.63 MnT in Apr'19.
Turkey's exports fell in May'19 amid softening demand in EU nations during the month.
However recent cut in import tariffs by USA from 50% to 25% on Turkey steel imports will be interesting to keep a watch in upcoming months whether it will support Turkey's export or not.
Whereas on yearly basis, exports inched down by 3.34% in May'19 in comparison to 0.60 MnT in May'18.
However in comparison with first five months of CY19, nation's flat steel exports surged up by 27.51% during Jan-May'19 with 3.29 MnT compared to 2.58 MnT in similar time frame of previous year.
