Türkiye’s Imports Of Hot-rolled Coils From China Continued To Grow From January To February

According to the latest monthly data from the Turkish Statistical Institute (TUIK), Turkey’s total hot-rolled coil imports fell 8.5% year-on-year to 755,000 tons from January to February. Despite facing anti-dumping investigations, Turkey’s imports of hot-rolled coils from China more than doubled year-on-year between January and February, reaching 352,000 tons.

On October 31 last year, the Turkish Trade Ministry launched an anti-dumping investigation into hot-rolled coils imported from China, India, Japan and Russia, saying that the results of the investigation are expected to be announced in the next few months. During this period, prices continued to rise. Industry sources said inflows from China will continue to dominate the Turkish hot coil market with low offers.

It is reported that some buyers purchased hot coil resources at a price of US$70/ton CFR lower than domestic prices at the end of March, putting pressure on domestic prices. We learned that hot coil orders from China at the end of March were mainly booked by steel pipe manufacturers because Turkey’s import processing system exempted finished steel exporters such as steel pipe manufacturers from raw steel import duties. The market expects that the current domestic demand for hot coils in Turkey is weak and the price situation will gradually recover from May.