Turkish steel coil offers to Europe to remain a threat to domestic prices

Offers of hot-rolled coil (HRC) to the EU from Turkey will continue to pose a threat to domestic prices, market sources told Fastmarkets on Monday October 8.

Turkish suppliers took a share of the European market after the European Commission (EC) last year set definitive trade measures affecting imports of HRC from Russia, Ukraine, Brazil and Iran, and from China. The share of Turkish HRC in the total imports into the EU increased to 32.57% in January-July this year from 26.85% in the corresponding months of 2017, according to data released by European steel association Eurofer. European buyers imported 1.66 million tonnes of Turkish HRC in the first seven months of 2018, according to Eurofer. Turkey exported 1,484,686 tonnes of hot-rolled flat steel to Belgium, Italy and Spain under customs code 7208 in the first eight months of 2018. This was 66.46% more than the 891,924 tonnes exported in the same period of 2017, according to the Turkish Statistical Institute (TUIK). Turkish flat steel exports to Europe have been increasing so far in 2018, thanks to short delivery times and competitive...

Published

Serife Durmus

Maria Tanatar

October 08, 2018

18:35 GMT

Hamburg, Bursa