Deliveries of Ukrainian billets to Turkey increased by 2.3 times y/y over 8 months

In January-August 2024, Turkey increased imports of steel billets from Ukraine by 2.3 times compared to the same period in 2023 – up to 108.51 thousand tons. This is evidenced by data from the Turkish Statistical Institute (TUIK), SteelOrbis reports.

In general, Turkish consumers imported 1.86 million tons of billets in 8 months, which is 24.6% less compared to January-August 2023. Import costs decreased by 28.5% y/y – to $1.05 billion.

The largest suppliers of the relevant products to Turkey are the Russian Federation – 381.15 thousand tons (-65.8% y/y), Malaysia – 315.52 thousand tons (+105.9% y/y), Algeria – 233.7 thousand tons (-44.7% y/y), Indonesia – 223.86 thousand tons, and Ukraine.

In August, Turkish steelmakers imported 273.06 thousand tons of billets, up 4.5% compared to July and 25.1% year-on-year. At the same time, import costs increased by 2.6% m/m and 21.7% y/y – to $148.46 million.

In August, Ukraine shipped 13.56 thousand tons of billets to Turkey, while in August 2023, it did not export to Turkey.

As GMK Center reported earlier, in 2023, Turkey increased its imports of billets by 22% compared to 2022, to 3.07 million tons. The Russian Federation shipped 1.39 million tons of products (-7.3% y/y), Algeria – 547.5 thousand tons (+392%), Oman – 251.5 thousand tons (+1.6%).

Last year, Ukraine shipped 67.13 thousand tons (-42.9% y/y) of billets to Turkish consumers. In 2024, Ukrainian steelmakers are likely to increase exports to alternative markets to the EU thanks to the establishment of the sea corridor, including Turkey, if there is such demand.