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According to the latest report released by Türkiye Institute of Statistics (TUIK) last week, Türkiye exported 528432 tons of plates in June 2024, an increase of 88.56% compared with 280241 tons in June 2023.
In the first half of this year, the country exported 2720484 tons of sheet metal, an increase of 85.30% compared to the 1468183 tons exported from January to June 2023.
From the perspective of importing countries, in June 2024, Türkiye will mainly export hot rolled S75CM steel steel plates to Italy (105957 tons) and Belgium (35268 tons). It is reported that after the new quota was implemented in Europe on July 1, buyers' interest in Türkiye hot rolls increased. This is mainly because Türkiye has sufficient quotas compared with other Asian countries (except other countries, Türkiye has the most quotas in the third quarter, 475173.52) and the transportation time is short. At present, the price of Türkiye's export hot coils is between 560-580 dollars/ton FOB, a small increase of 10 dollars/ton FOB compared with the previous two weeks. Although Türkiye launched an anti-dumping investigation on hot rolls imported from China last year, according to the latest data of Türkiye Institute of Statistics (TUIK), in the first half of 2024, although Türkiye's overall import of hot rolls declined to 2.37 million tons, down 18% year on year, the import of hot rolls from China increased to 1.1 million tons, up 10% year on year.
Overseas price advantage resources from China S75CM steel and other places have exerted certain pressure on the pricing of local steel mills in Türkiye. At present, the price of local hot coils in Türkiye is about 570 dollars/ton EXW. At the beginning of 2024, it will be around $700-720 per ton EXW.
According to the data of Türkiye Institute of Statistics, Egypt became the second largest supplier of hot coils to Türkiye in the first half of this year, with a supply of 345500 tons, a year-on-year increase of about four times.
In the first half of this year, South Korea was the third largest supplier of hot coils to Türkiye, with a supply of 273800 tons, down 11.5% year on year.
The biggest drop came from the import volume of Russia S75CM steel, which is one of the traditional suppliers of Türkiye hot rolls. However, in the first half of this year, Russia became the fourth largest supplier of hot coils to Türkiye. Türkiye only imported 202600 tons of hot coils from Russia, compared with 478800 tons in the same period last year.
In the first half of this year, Türkiye's other main suppliers of hot coils were Japan (87000 tons), Ukraine (85300 tons), France (65600 tons) and Italy (32700 tons).
On October 31, 2023, the Ministry of Trade of Türkiye S75CM steel launched an anti-dumping investigation against hot rolls from China, India, Japan and Russia. At present, the investigation is still continuing. The investigation results are expected to be released before the end of the year, and we will continue to pay attention to them.
