Turkey reduced its procurement of cold rolled products in June. China is the main source of products for Turkish consumers, accounting for nearly 46%
of the total monthly supply. Despite the previous strong import performance, the results in June also showed a downward trend.
China was among the top suppliers of cold rolled products in June, providing about 33,000 tons materials, accounting for nearly 46% of the month. Meanwhile,
the sales volume increased 65 times year-on-year. The clear export value added tax rebate policy is a key reason for such rapid growth, because the Chinese
government abandoned the loose policy for most steel products at the end of April, but retained this practice for cold and plated products. A market person
pointed out that this is a paradox. When the tax law is revised, cold-rolled coils are cheaper than hot-rolled products, which aroused more interest of buyers.
According to the data of the TUIK, in June, local companies received 76,419 tonsforeign cold rolls, a year-on-year decrease of 26%. This is the second month of continuous grain, and the supply has decreased. Russia is the main driver of the situation. Under the condition of paying more
attention to the demand of the domestic market, the export to Turkey decreased by 77% to about 17,000tons.
In the past few months, the purchase volume of foreign cold rolling products has decreased, which naturally leads to the weakening of the overall industry
in the first half of 2021. According to the Turkish Bureau of statistics, Turkey reduced its imports of the above-mentioned products by 6% to 45,5972tons
during the reporting period. Russia has maintained its position as a major supplier, accounting for nearly 40% of the total, i.e. about 18,100tons, a decrease
of 21% compared with January June 2020. According to metal expert, China ranked second with 81,000, with a year-on-year increase of 246%.
Post time: Aug-20-2021