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Egypt emerges as key HRC exporter to Türkiye in Jan. to May 2024

Egypt’s consistent supply underscores a strategic trade partnership between the two nations. The reliability and quality of Egyptian HRC contribute significantly to Turkey’s steel industry.

 Egypt emerges as key HRC exporter to Türkiye in Jan. to May 2024

In May 2024, Türkiye experienced a notable decline in its hot rolled coil (HRC) imports, marking a decrease of 24.3% from April and a stark 51.8% drop compared to the same month last year, according to data from the Türkiye. Concurrently, the value of these HRC imports fell by 20.9% month-on-month and by 52.9% year-on-year, amounting to $195.19 million in May.

Looking at the cumulative figures for the January-May period of 2024, Türkiye's total HRC imports amounted to 1,762,060 metric tons, showing a 10.6% decrease compared to the same period in the previous year. In terms of import value, there was a 12.9% decline year-on-year, totaling $1.14 billion. These figures indicate a sustained moderation in Türkiye's steel imports, possibly influenced by domestic demand fluctuations and global market dynamics affecting steel prices and availability.

China emerged as Türkiye's largest source of HRC imports during this period, supplying 896,145 metric tons. Egypt followed with 288,481 metric tons, and Russia contributed 185,597 metric tons, underscoring the diverse geographic origins of Türkiye's steel imports. Egypt’s consistent supply underscores a strategic trade partnership between the two nations. The reliability and quality of Egyptian HRC contribute significantly to Turkey’s steel industry.

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SteelRadar Insight - Sayı 1 (Haziran 2024)

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