Steel price lowering down, our centrifuge basket gets lower cost and better delivery time

Turkish steelmakers expect the EU to end efforts to implement new protectionist measures, revise existing measures in line with WTO rulings, and give priority to creating free and fair trade conditions.

“The EU has recently tried to create some new obstacles to the export of scrap,” says Turkish Steel Producers’ Association (TCUD) general secretary Veysel Yayan. “The fact that the EU is trying to prevent scrap exports in order to provide additional support to its own steel industries by putting forward the Green Deal is completely contrary to the Free Trade and Customs Union Agreements between Turkey and the EU and is unacceptable. The implementation of the aforementioned practice will adversely affect the efforts of producers in the addressee countries to comply with the Green Deal targets.”

“Preventing scrap exports will lead to unfair competition by providing EU steel producers an advantage to procure scrap at lower prices, on the one hand, and the other hand, the investments, scrap collection activities and climate change efforts of scrap producers in the EU will be adversely affected due to falling prices, contrary to what is claimed,” Yayan adds.

Turkey’s crude steel production meanwhile increased in April for the first month since November 2021, rising 1.6% on-year to 3.4 million tonnes. Four-month production, however, declined 3.2% on-year to 12.8mt.

April finished steel consumption fell 1.2% to 3mt, Kallanish notes. In January-April, it declined 5.1% to 11.5mt.

April exports of steel products declined 12.1% to 1.4mt while increasing 18.1% in value to $1.4 billion. Four-month exports fell 0.5% to 5.7mt and increased by 39.3% to $5.4 billion.

Imports fell 17.9% in April to 1.3mt, but rose in value by 11.2% to $1.4 billion. Four-month imports fell by 4.7% to 5.3mt while rising by 35.7% in value to $5.7 billion.

The ratio of exports to imports rose to 95:100 from 92.6:100 in January-April 2021.

The decrease in world crude steel production continued in April, meanwhile. Among the world’s 15 largest crude steel-producing countries, all except India, Russia, Italy and Turkey recorded a decrease.

Post time: Jun-16-2022