International Steel Market Daily: Italy Became Turkey's Largest Hot Coil Export Destination in May

Affected by the impact of low-priced resources in Asia and trade protection measures, the demand in some major export markets has been sluggish. Turkey exported 294,000 tons of flat products in May, a year-on-year decrease of 25.86%; the export volume of hot coils was 129,000 tons, a year-on-year decrease of 30%. Italy was once again Turkey's largest HRC export destination, with imports of 31,600t, up 1.5% year-on-year. Egypt ranked second, importing 22,800 tons, nearly double the year-on-year increase; Denmark imported 14,000 tons, an increase of 7% year-on-year; Algeria and Iraq imported 8,200 tons and 8,100 tons respectively.

In terms of domestic trade, Turkish buyers returned from the Eid al-Adha holiday this week and returned to the market, but transactions remained sluggish. Mysteel estimates that the ex-factory price of Turkish hot coil will remain at US$680/ton on July 7.