In May this year, Turkey's steel imports increased by 39.7 percent year on year to 1.66 million mt, according to the data released by the Turkish Iron and Steel Producers' Association (TCUD).
In the given month, Turkey's billet imports totaled 458,000 mt, up 6.3 percent, while slab imports amounted to 360,000 mt, up 540.6 percent, both year on year. In May, flat steel imports totaled 657,000 mt, up 27.3 percent, while long steel imports amounted to 122,000 mt, up 5.2 percent, and pipe imports increased by 3.2 percent to 30,000 mt, all on year-on-year basis.
During the January-May period, Turkey's steel imports increased by 32.5 percent year on year to 7.37 million mt. In the given period, Turkey's billet imports moved up by 40.6 percent to 1.86 million mt, while its slab imports rose by 84.1 percent to 309,000 mt, both year on year. Also, in the first five months of this year, Turkey's flat steel imports increased by 27.7 percent to 3.44 million mt, its long steel imports moved up by 1.9 percent to 589,000 mt, and steel pipe imports totaled 190,000 mt, up 3.1 percent, all on year-on-year basis.
According to the TCUD, there are many important factors that have changed the balance of the foreign trade data of the Turkish steel industry, such as the pressures on the Turkish steel market that weakens its competitiveness, the declining margins between prices of raw materials and of finished steel products, the fierce competition in the global markets and the increased volume of dumped, poor quality and uncertified imports that creates unfair competition. The TCUD also pointed out that in May this year Turkey became a net importer of steel products for the first time.