By Paul Ploumis 05 Aug 2015 Last updated at 08:35:19 GMT
ANKARA (Scrap Monster): The most recent statistics published by the Turkish Steel Exporters’ Union (CIB) suggests that steel exports by the country dropped significantly during the first half of the current year. On the other hand, the country’s steel imports surged higher during the initial six-month period of the year.
As per CIB data, shipment of steel from Turkey saw a decline of 10.1% over the previous year during the six-month period from January to June this year. The exports totaled 8.47 million tons during this period. Turkey’s long steel products export dropped nearly 10% to total 5.24 million tons. The flat steel exports by Turkey too dropped nearly 10% to 1.13 million tons during this period. The billet exports plunged heavily by 21.9% to 151,000 tons. Meantime, steel pipe exports increased marginally by 3.8% to 953,000 tons during H1 2015.
The country’s steel imports surged higher by 34.4% to 9.03 million tons. Imports of steel pipes were up 10.8% to 228,000 tons. Billet imports soared higher by 62.5% to 1.14 million tons. Long steel imports by Turkey during H1 totaled 799,000 tons, 7.3% higher year-on-year. Flat steel imports rose 25.5% over the previous year to 4.16 million tons.
The country’s domestic production of finished steel has totaled 18.54 million tons during the first half of the year, increasing marginally by 3.1% year-on-year. The data released by the Turkish Iron and Steel Producers Association (TCUD) also indicates that long steel accounted for 13.33 million tons, whereas flat steel products accounted for the balance 5.21 million tons.
The consumption of long steel products by Turkey jumped higher by 9.6% year-on-year to 8.88 million tons during the initial six-month period of 2015. The flat steel consumption witnessed an increase of 20.2% to total 8.22 million tons during this period.