Turkey increased HRC supplies by 19% in June

Total HRC exports from Turkey in June this year increased by 19%, to 166.2 thousand metric tons compared to May and decreased by 0.7% year-on-year.

SteelOrbis reports about it with the reference Turkish Statistical Institute (TUIK).

These exports totaled $166.9 million, up to 13.6% more from last month, but down 13.7% from the same month in 2021.

In the January-June 2022, Turkey’s exports amounted to 778,000 t., which is 20.9% less, while the value of these exports increased by 2.4 percent, to $745.5 million less compared to the same period in 2021.

In the first half of this year, Egypt took first place among HRC importers from Turkey (179.7 thousand tons), followed by Italy, which received 122.8 thousand tons.

The largest American producers of flat products – Cleveland-Cliffs, Nucor, Steel Dynamics (SDI) and US Steel – are planning to increase production until the end of 2022, despite the fact that most market participants expect a reduction in supply to stop falling prices.

As GMK Center reported earlier, sales on the European market of HRC faced with difficulties because end consumers compared the current spot prices after a significant decrease with those at which buyers bought steel products at the beginning of the Russian military aggression against Ukraine.