Turkey's imports of flat steel decreased by 52.69% year on year in November 2018, the Turkish Statistical Institute (TUIK) said on Monday December 31.
The country imported 358,826 tonnes of flat steel, compared with 758,499 tonnes in November 2017, TUIK statistics showed. The decrease in imports was largely due to the negative sentiment prevalent in the domestic steel market since August this year, when the country's lira lost significant ground against the dollar after United States president Donald Trump doubled the tariffs applicable to steel entering the US from Turkey.The Turkish currency was trading at TRY100 to $18.9065 on December 31. Earlier this year it had fallen to TRY100 to $18.98 on...