CIB: Turkish steel exports declined during Jan-Apr ‘16

ANKARA (Scrap Monster):  The latest statistics released by the Turkish Iron and Steel Exporters Association (CIB) indicates that the country’s steel exports dropped marginally during the initial four-month period of the year. The total steel exports by the country during this period totaled 5.5 million tons, down slightly by 3.1% when matched with a year before. The country’s steel exports during January to April in 2015 had totaled 5.68 million tons. However, value of exports dropped sharply by nearly 25% to $2.8 billion. The steel exports during the month of April ’16 alone totaled 1.12 million tons.

Q1 Exports

The Turkish steel exports during the initial quarter of the year totaled 4.38 million tons, rising marginally by 1.6% over the previous year. The value of exports amounted to $2.54 billion, significantly down by nearly 21% year-on-year. The exports of semi-finished steel products during the initial quarter of the year totaled 37,500 tons, dropping significantly by 65% over the previous year. Long products export dropped marginally by 2% to 2.77 million tons. Meantime, plate exports surged higher by 43.5% over the previous year to 683,000 tons during January to March this year. The plate exports had totaled only 476,000 tons during the corresponding quarter last year.

Steel imports from China

The statistics published by the Turkey Iron and Steel Producers Association (TCUD) suggests that steel imports by the country from China continued to surge higher during Q1 2016. The imports of Chinese steel products totaled 679,000 tons, increasing sharply by nearly 19% when compared with the corresponding quarter last year. The imports of semi-finished steel products skyrocketed by 719% year-on-year to 411,000 tons during Jan-Mar ’16. The imports had totaled only 50,000 tons during the same quarter last year.

Wire rod prices stable

The Turkish domestic wire rod prices held steady despite marginal decline in market demand. The offer prices for wire rods with diameter 6-7 mm in Marmara area were at US$540-560/ton based on actual weight calculation, excluding VAT, ex-factory. The offer prices in Thrace area were at US$520-530/ton, whereas the prices in Izmir area were at US$520-550/ton. The Iskenderun area prices were offered at US$500-520/ton. According to market participants, the wire rod prices are likely to recover in the forthcoming weeks.

HRC prices soar

The Turkish domestic hot rolled coil prices averaged at $570-600 per ton, ex-factory. The prices increased by almost $25 per ton despite weak market demand.

Crude steel output

The Turkish crude steel production during the initial quarter of the current year has increased marginally by 1.9% over the previous year. The production totaled 7.697 Mt in Jan-Mar ‘16 as against the production of 7.550 Mt recorded during the corresponding quarter last year. The monthly output during March ’16 climbed higher marginally by 1.3% from 2.694 Mt in Jan-Mar ’15 to 2.729 Mt during the first three months of 2016.

Scrap steel import prices gain

The bulk cargo import prices for No.1 &2 mixed steel scrap from the US East Coast witnessed rise of $50 per ton during the month to $330 per ton CFR. The price of imported mixed waste (80:20) from Baltic Sea region was at $320 per ton CFR.