Turkey's January-August Imports Of Hot Coils From China Accounted For 50.8% Of Total Imports

Between January and August 2024, Turkey brought in a lot of hot-rolled steel coils. They bought around 2.44 million tons, which is less than what they bought last year by 20%. They spent about $1.6 billion and the average cost was $656 for each ton. Among these imports, China dominated with a supply of about 1.24 million tons, a 7.6% increase year-on-year, accounting for 50.8% of Turkey's total HRC imports. This data indicates the important position of China in Turkey's HRC import market.

Egypt followed with a supply of 408,000 tons, and Russia ranked third with a supply of 220,400 tons. Notably, in August 2024, Turkey's HRC imports were about 245,000 tons, which increased by 57% month-on-month but decreased by 23% year-on-year. This may reflect changes in market supply and demand or price fluctuations.

In terms of exports, Turkey exported about 1.6 million tons of HRC from January to August 2024, a 134% increase compared to the same period last year, with an export value of about $1.05 billion and an average export price of $656 per ton. Italy was the largest export market for Turkey's HRC, with an export volume of about 491,000 tons, accounting for 30.7% of the total exports. Spain and Egypt ranked second and third with export volumes of 198,000 tons and 173,000 tons, respectively. In August 2024, Turkey's HRC exports were about 212,000 tons, which decreased by 31.3% month-on-month but increased by 80.9% year-on-year. This trend may be related to the increase in global market demand.

Overall, In 2024, Turkey saw its HRC imports go down while its exports went up a lot. China plays a big role in selling HRC to Turkey, and Turkey is selling more HRC to different countries around the world. These changes in buying and selling show how Turkey's steel business is adapting, and they're also connected to how the world economy and what people need are changing.