Turkey imported 27.06% less flat steel in September 2018 than it did in the corresponding month a year earlier, according to data released this week by the Turkish Statistical Institute (TUIK).
The country imported 634,898 tonnes of such products, compared with 870,388 tonnes in September 2017, TUIK statistics showed.Demand for flat steel imports has been slow, especially so far in the second half of 2018, because of the fall in the exchange-rate value of the Turkish lira and weak end-user demand.The imports delivered in September were mostly booked in June and July, when demand for imports was weak in Turkey.The import tonnages that will be reported in November and December were also expected to be low due to the negative sentiment in the country.Besides, the current offer prices available from import sources for hot-rolled coil (HRC) were high, so locally produced products were preferred for now.Fastmarkets' weekly price assessment for HRC imports into Turkey was $520-525 per tonne cfr on Friday October 26, down from $535-540 per tonne a week earlier. The weekly price assessment for Turkish domestic HRC was $540-545...