China became the largest net exporter of flat steel to Turkiye in 8 months of 2022

The best export/import ratio of flat rolled products was observed in Turkiye's trade with Ukraine

In January-August 2022, China, the Russian Federation and South Korea became the largest net sources of flat products imports to Turkiye. The SteelData’s analysis reports about it.

China became the largest net exporter of flat rolled products to Turkiye in the eight months of 2022 – the increase was 68% y/y, or 566 thousand tons. The China surpassed Russia and Ukraine compared to the same period in 2021.

The import of Russian flat products to Turkiye in January-August 2022 decreased by 40.5%. Russia became the second largest supplier of these products to the country after China in this period.

In January-August 2022, South Korea increased its exports of flat products to Turkiye by 22%, ranking third among net exporters, India is in the in fourth place – (+46% y/y).

In 8 months of 2022, Turkiye practically did not export flat products to China, South Korea and India, so the country’s export/import ratio with these countries is 0%. In January-August 2022, Turkiye exported only 13,000 tons of flat rolled products to the Russian Federation, the ratio of export/import of this product between the countries was 1.2%.

According to reports, among the top 10 net suppliers of flat rolled products to Turkiye, the best export/import ratio is observed in trade with Ukraine – 25.7%.

As GMK Center reported earlier, in January-August 2022, Turkiye reduced the import of steel products by 2.7% compared to the same period in 2021 – to 10.96 million tons. During this period, steel imports from Ukraine decreased by 75.5% compared to January-August 2021 – to 1.24 million tons.

Steel supplies to Turkiye fell due to the blockade of Ukrainian ports and the destruction of the two largest plants Azovstal and Ilyich Iron and Steel Works in Mariupol. Russian imports to Turkiye in 8 months amounted to 345,000 tons, which is 8.9% less year-on-year.