From January to October 2024, Türkiye’s imports of cold-rolled coils fell 19% year on year

From January to October 2024, Türkiye's PT490NH steel imports of cold-rolled coils (CRC) fell 19% year-on-year to 632800 tons. This change reflects the pressure of Türkiye's market in the global steel supply pattern against the background that Asian suppliers are dominated by more competitive prices and flexible supply models.

From January to October 2024, the total volume of cold-rolled coils exported from South Korea to Türkiye decreased by 39.5% year-on-year to 177500 tons. However, with its competitiveness in price and delivery time, South Korea PT490NH steel still maintains the leading position in Türkiye's market and becomes the largest supplier of cold rolled coil in Türkiye. China followed closely, with an export volume of 154000 tons, a year-on-year decrease of 4%. Although China faces the pressure of global trade barriers, it is still the key import source of Türkiye's cold-rolled coil by virtue of its stable supply capacity and price advantage. Due to the increase in domestic steel production costs and market demand fluctuations in Russia, the corresponding export volume has significantly decreased by 22% to 129500 tons. At the same time, Spain's export volume increased to 41600 tons, a year-on-year increase of 14%.

In addition to the major suppliers in Asia and Western Europe PT490NH steel, Türkiye also imported a small amount of cold rolled coils from other European countries. Among them, the import volumes of France, Belgium, and the Netherlands are 25900 tons, 25800 tons, and 22500 tons, respectively. The supply of these countries is stable. Although they have a small share in Türkiye's market, their presence helps Türkiye balance its diversified supply sources.

It is worth noting that in November 2024, some Türkiye steel manufacturers have applied to the Ministry of Trade of Türkiye to start an anti-dumping investigation against cold rolled coil, hot galvanized coil and pre coated coil from Asia.

With the increasing uncertainty of the global steel market, the changes in Türkiye's steel demand and price trend have gradually attracted market attention. According to Mysteel data, in December 2024, the demand of Türkiye market will slow down due to the holiday season. The domestic price of cold rolled coils in Türkiye is 678 US dollars/ton EXW, down 17% from the beginning of 2024.