China continues to dominate Turkish stainless market with competitive prices
China continued to raise its share in the Turkish stainless steel market with competitive prices, according to the latest monthly Turkish Statistical Institute (TUIK) data sent to S&P Global Platts.
Turkey imported 82,000 mt of stainless steel coil (HS code: 7219-7220) in November, of which 25,500 mt was from China, up 68% on the year, the data showed.
Stainless imports from China thus reached 207,800 mt in the first 11 months of 2021, 86% higher on the year, while Turkish mills’ overall stainless steel imports totaled 690,000 mt, around 150,000 mt higher on the year, on higher stainless steel consumption in Turkey with the easing of the pandemic.
The cost of these imports also rose to $1.5 billion in that period, 53% higher on the year due to globally higher steel pricing.
Following China, another Asian country, South Korea, became Turkey’s second largest stainless steel supplier in the 11-month period at 130,000, 15,000 mt lower on year.
Turkey’s imports of stainless flat steel from another Asian country, Indonesia, totaled 102,000 mt in January-November, more than double on year.
Turkey also imported 39,000 mt of stainless steel coil from Spain in that period, while imports from Italy totaled 37,000 mt.
Turkey decreased its duty on imports of cold-rolled stainless sheets to 8% from 12% effective Jan. 1 2022, amid increased stainless flat steel demand in the country.
The tariff does not apply to countries, such as those of the EU, with which Turkey has a free trade agreement, according to a decree published in the country’s Official Gazette.
Turkey’s sole stainless cold-rolling mill, Posco Assan TST, based in Izmit, Kocaeli, near Istanbul, has a production capacity of 300,000 mt/year of 0.3-3.0 mm thick stainless cold-rolled coil up to 1,600 mm wide.
— Staff, Cenk Can