In February of 2019, Turkish coated coils exports continued to be supported due to the increased demand in the EU, especially from Italy and Spain. The manufacturers exported 150,000 tons of coated coils in February, which were up more than doubled year-on-year from 123,000 tons in January.
According to the latest statistics from Turkish Statistical Institute (TUIK), Italy was the main buyer for Turkey in February, importing a total of 40,000 tons of coated coils, while the total number exported to Spain in the same month was 18,800 tons.
In recent years, the US has become the main export country of Turkish coated coils. However, in mid-August 2018, the US began to impose tariffs on Turkish steel based on Section 232, which led to Turkey’s exports to the US maintaining zero in February.
In addition, in the face of the low demand and strong competition in the EU market, domestic prices and export prices of coated coils of Turkish steel fell last week.
Source from Yieh Corp
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