(c) shutterstock
Turkish exporters assess additional profit due to the ban on the supply of Russian steel products to the EU at $1 billion. It is reported by Hellenic Shipping News.
Additional profit is expected due to quota shifts for non-EU countries.
“For this year Turkey’s quota is about 6.2 million tons. The quota shifts means approximately 1 million additional tons for Turkish steel”, said Ulgur Dalbeler, vice chairman Çolakoğlu Metalurj, a leading Turkish steel exporter.
Thus, Turkish exporters will have an additional export income of about $1 billion.
In recent weeks exporters have seen new demand especially from Baltic countries. At the same time, the local steel market in Turkey may face disbalance, and price rise after a sudden demand rise.
As a reminder, a week ago a Council European Union approved the fourth package of restrictive measures against Russia, including a ban on supply of Russian steel products to the EU totalling €3.3 billion.
Kametstal is carrying out a large-scale overhaul of sintering machine No. 9, one of the…
The Ministry of Industry and Trade of Vietnam has announced a revision of the previous…
Spot coking coal prices in China fell by $4/t to $175/t EXW from April 25…
Indian steelmaker Tata Steel increased steel production in India by 4.3% y/y – to 21.7…
Kryvyi Rih Iron Ore Plant (KZHRK) plans to partially resume operations after the shutdown on…
German steelmaker Salzgitter AG cut steel production by 7.5% to 1.55 million tons in January-March…