Turkish steel imports from China up 194 percent in the first half

The latest data released by the Turkish Steel Manufacturers Association (TCUD) indicates a significant jump in steel imports from China. Total imports of Chinese steel to Turkey increased by more than 194 percent in the first six months of this year compared to the previous year.

China's imports of flat products from China totaled 526,000 tonnes over the six-month period, up 344 percent from imports in the first half of last year, according to TCUD. In addition, imports of long products rose 141.4 percent year-on-year to 107,000 tonnes in January-June this year. The country imported 115,000 tons of steel pipes from China during the period, up 33.4 percent from 86,000 tons imported during the corresponding half in 2014.

Meanwhile, industry sources indicate that demand for Turkish hot rolled steel remains sluggish. Domestic HRC prices are still under pressure. In Turkey, HRC prices are currently around 375-390 USD EXW excluding VAT. Turkish buyers rejected HRC's offers from the CIS in the $ 340-360 /t CFR range, pending further discounts. The export market for HRC also remains weak due to lower demand in foreign markets. Turkish export proposals for HRC are currently in the range of $ 360-370 per tonne FOB.

At the same time, the price of Turkish imports of scrap metal experienced a slight increase during the last week. The import price of mixed waste is up $ 5 per tonne to $ 240 per tonne CFR, compared to prices at the beginning of last week. According to trade sources, Turkish factories buy imports of mixed steel scrap from the Baltic Sea region at an average of $ 241 per ton.