Turkey - Flat Steel Imports Reduce by 23% in Oct'18
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According to the recent customs data,Turkey flat steel imports which includes 7208 (HR coils /Plates),7209(CR coils),7225 (Electrical sheets),7210/7212(GP/GC) fell by 23% on monthly basis in Oct'18.
Nation's flat steel imports stood at 0.48 MnT in Oct'18 in comparison with 0.62 MnT in Sep'18.
However on yearly basis the same dropped by 33% in Oct'18 against 0.72 MnT in Oct'17.
During first ten months of CY18 (Jan- Oct) nation's flat steel export volumes stood at 5.96 MnT fell by 10% against 6.61 MnT in similar time frame of previous year.
Turkey likely to impose tariffs on steel imports in CY19- Turkey started the investigation into imports of flat, long and stainless steel, along with steel tube and pipe products in April'18 which is likely to implement in early 2019.
Turkish steelmakers expect new duties on imports,especially of flat and long products since producers cannot meet production costs amid cheaper imports.Thus they have to decrease capacity utilization levels.
Commodity wise flat steel imports in Oct'18
| Sub Commodity | Oct'18 | Sep'18 | Change in % | Oct'17 | Y-o-Y (change in %) |
| HRC/Plate | 0.25 | 0.35 | -28.57 | 0.37 | -32.43 |
| Electrical Steel | 0.12 | 0.12 | 0.00 | 0.09 | 33.33 |
| CRC | 0.06 | 0.08 | -25.00 | 0.15 | -60.00 |
| Galvanized Steel | 0.05 | 0.06 | -16.67 | 0.09 | -44.44 |
| Others | 0.01 | 0.01 | 0.00 | 0.01 | 0.00 |
| Grand Total | 0.48 | 0.62 | -22.5 | 0.72 | 33 |
Qty in MnT
Source-SteelMint Research
Country-Wise Turkey Flat Steel Imports in Oct'18 - Russia stood as a major flat steel exporter and has procured 0.15 MnT of flat steel in Oct'18 fell by 29% M-o-M basis against 0.21 MnT in Sep'18.
Secondly Ukraine exported 0.04 MnT in Oct'18 decline by 33% M-o-M basis against 0.06 MnT in previous month.
Other major exporters include France at 0.05 MnT remain stable for past two months.Followed by South Korea stood at 0.06 MnT and Germany at 0.04 MnT in Oct'18.
