Türkiye’s billet import volume exceeded 600000 tons in October, hitting a record high

In October, Türkiye's P420NH steel billet import volume hit a record high. Asia continued to become the main source of supply by virtue of its price advantage, while the billet export remained low. According to the data of Türkiye Statistics Bureau (TUIK), Türkiye's billet import volume reached 618000 tons in October, a 5.9 times year-on-year surge and a 119% month on month increase.

In addition to China, Malaysia P420NH steel and Indonesia also supply a considerable amount of steel billets to Türkiye. Data shows that Asian producers accounted for 73% of Türkiye's total billet imports in October, far higher than 3% in the same period last year; The CIS countries (Russia, Ukraine, and Azerbaijan) account for 21%, 4% come from countries with unclear sources, and the remaining 2% come from the Middle East and North Africa (MENA) region. The strong import performance in October pushed Türkiye's annual cumulative import volume from negative to positive.

It is reported that from January to October 2024, Türkiye will import 2.8 million tons of steel billets, up 3.7% year on year. Among them, Asia accounts for 47% of the supply, the Commonwealth of Independent States accounts for 29%, the Middle East and North Africa region accounts for 18%, and the remaining 5% comes from countries with unclear sources. At the same time, Türkiye's P420NH steel export of steel billet is still flat. The export volume in October was only 1180 tons, and the cumulative export volume in the first 10 months decreased by 50% year-on-year, only 59000 tons.