FOCUS: Indian mills redirect HRC exports to Turkey on low sales to Asia

Indian steelmakers sold substantial volumes of hot-rolled coil to Turkey in the first week of June, exceeding their traditional tonnages exported to the country, due to the lack of demand in the country’s traditional outlet markets, sources told Fastmarkets on Friday June 4.

Deals for Indian HRC were made at $1,020-1,030 per tonne cfr Turkish ports. Several market participants reported that the volume was about 100,000 tonnes.
India did not export any HRC to Turkey in 2020, according to data released by the International Steel Statistics Bureau (ISSB). Its exports to the Middle Eastern country in 2019 were 17,814 tonnes, and 67,208 tonnes in 2018.
In January-April 2021, India exported to Turkey a total of 23,137 tonnes of HRC (HS codes 7208 and 7225), according to data from the Turkish Statistical Institute (TÜIK).
In 2020, India exported 1.88 million tonnes of HRC to Southeast Asia, 1.96 million tonnes to China, 414,721 tonnes to the Middle East and 224,273 tonnes to the EU.

In 2019, Indian mills had delivered 2.16 million tonnes of HRC to Southeast Asia, 353,457 tonnes to the Middle East and...

Published

Serife Durmus

Maria Tanatar

Paul Lim

June 07, 2021

13:15 GMT

London, Bursa, Singapore