By Paul Ploumis 22 Jul 2015 Last updated at 05:46:36 GMT
ANKARA (Scrap Monster): According to statistics released by the Turkish Statistical Institute (TUIK), the country’s exports of Hot Rolled Coils (HRC) declined sharply during the month of May this year.
TUIK data indicates that HRC exports by the country totaled 92,521 tons during the month. This is 50.8% lesser when compared with the exports during the previous month. The exports were down by 12.2% year-on-year. Turkey had exported 105,377 tons of HRC during May 2014.
The HRC exports generated total value of $41.4 million during the month. The export values dropped 33% from the previous year and by 50% from a month ago.
The cumulative HRC exports by the country during the five-month period from January to May this year totaled 536,935 tons. The exports during the period were down 2% when compared with the corresponding five-month period in 2014. The Turkish HRC exports during Jan-May ’14 had totaled 547,893 tons. The largest export destination of Turkey’s Hot Rolled Coil products was the US. The Turkish HRC imports by the US totaled 169,898 tons, accounting for nearly 32% of the total exports by Turkey during the given period of time. In second place was Italy with 80,579 tons.