Posted on 11 Jul 2018
Turkish finished steel consumption increased 20.9% on-year in May to 3.5 million tonnes, taking January-May consumption up 15.2% on-year to 13.3mt, according to Turkish Steel Producers’ Association (TCUD) data seen by Kallanish.
This was, however, undermined by imports of flat and long products that, as reported earlier, surged 35% and 38% respectively in May to 916,700t and 137,000t (see Kallanish passim). Five-month steel imports rose 18% to 7.5mt.
Five-month exports, meanwhile, fell -4% to 8.1mt, as the US 25% steel import tariffs to some extent curbed Turkish shipments abroad, according to TCUD.
“We must look at the slowdown in production and decline in export volume and take precautions as a country,” TCUD says. “Otherwise, we could become a market for some countries that produce steel at dumping prices.”
