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The latest data from Türkiye FeE650 steel Institute of Statistics (TUIK) shows that due to the impact of sanctions against Russian steel, the payment problem has led to the reduction of Türkiye's semi-finished products imported from Russia by about 1 million tons from January to June 2024, only 862500 tons.
According to the data, Türkiye's overall import of semi-finished products during this period was 3.18 million tons, a year-on-year decrease of 7%. As the import volume of Türkiye's largest supplier declines significantly, Malaysia FeE650 steel will become the largest source of semi-finished products in Türkiye in the first half of 2024, with an export volume of 929000 tons.
Indonesia was the third largest supplier of Türkiye during the six months, with a supply of 310000 tons, a threefold increase over the same period last year, while Saudi Arabia's supply reached 258000 tons, a fourfold increase over the same period last year.
In the same period, Türkiye imported 173000 tons of semi-finished products from Algeria, a year-on-year decrease of 52%. In the first half of 2024, other semi-finished product suppliers of Türkiye include Oman FeE650 steel (170300 tons) and Vietnam (101000 tons).
