Deliveries of Ukrainian billets to Turkey increased by 2.3 times y/y over 9 months

The total billet import by Turkish consumers during the period decreased by 16% y/y

In January-September 2024, Turkey increased imports of steel billets from Ukraine by 2.3 times compared to the same period in 2023 – up to 129.4 thousand tons. This is evidenced by data from the Turkish Statistical Institute (TUIK), Kallanish reports.

In general, Turkish consumers imported 2.08 million tons of billets in 9 months, which is 16% less compared to January-September 2023.

The largest suppliers of the relevant products to Turkey in January-September were the Russian Federation – 442.17 thousand tons (-61% y/y), Malaysia – 382.7 thousand tons (+134% y/y), Indonesia – 263.72 thousand tons, Algeria – 233.7 thousand tons (-42% y/y), and Ukraine.

In September, Turkish steelmakers imported 281.22 thousand tons of billets, up 3% compared to August and 3.2 times year-on-year.

In September, Ukraine shipped 31.71 kt of billets to Turkey, up 2.3 times m/m and 3.2 times compared to September 2023.

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.