British Steel to start Euro 1 supplies soon with export agency assigned

Thursday, 02 April 2020 17:37:29 (GMT+3)   |   Istanbul

British Steel, a UK-based integrated steel producing conglomerate, which has recently been taken over by China’s Jingye Group, has assigned Turkey-based DLT, headed by Onur Altintas, to be its export agent, effective from April 1. The company will be mainly concentrating on sales to Turkey, but is free to bring other sales options to British Steel, in North Africa in particular.

The sales plan will be adjusted in the coming months as British Steel proceeds with its operations. However, according to the preliminary disclosed information, on a monthly basis DLT will have around 60,000-80,000 mt of slabs and 20,000 mt of blooms to export. In the longs segment, around 10,000-20,000 mt of wire rods and 25,000 mt of beams and profiles may be traded, again on a monthly basis, SteelOrbis has learned. DLT plans to start performing its sales operations shortly.

Having British Steel elaborating its export activities in partnership with DLT is expected to benefit first of all Turkish steel producers, flats producers in particular. After the SSI UK shutdown back in 2014, this is the first time Turkey may gain a sustainable source of Euro 1 slabs, which are not subject to import tax. The same is applicable for bloom supplies to the benefit of Turkey’s merchant bar producers mainly.

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