Posted on 05 Nov 2024
Turkey increased its slab imports in September to 336,385 tonnes, at an average price of $507/tonne, with Russia and Indonesia the primary suppliers, according to Turkish Statistical Institute (TUIK) data monitored by Kallanish.
Slab intake thus rose 74% year-on-year and 11% month-on-month.
Russia led Turkey's slab imports in September with supply of 152,529t, accounting for 45% of total imports. This represents a 33% y-o-y increase, although Russia’s market share dropped from 59% in September 2023, with the volume remaining nearly unchanged from August.
Indonesia emerged as Turkey's second-largest supplier, providing 103,788t and capturing a 31% market share. Malaysia supplied 36,157t, taking an 11% share and marking a 33% y-o-y increase.
Algeria contributed 8% to Turkey’s slab imports. Shipments beginning in August from the newly commissioned Tosyalı Algeria continued in September. The plant is expected to maintain regular deliveries to Turkey to support Tosyali’s production needs.
Oman, a non-slab-producing nation, captured a 5% market share in September.
Turkey's slab imports surged 37% year-on-year in the first nine months of 2024 to 2,783,993t. Notably, they already surpassed full-year 2023 intake, which amounted to 2,718,018t.
Russia retained its position as the largest supplier, although its market share has significantly declined to 38%, down from 61% in the same period last year. Malaysia has emerged as a key player in Turkey's slab imports, tripling its volume to 1,005,653t and nearly matching Russia's figures. This surge is attributed to a free trade agreement that facilitates the use of finished steel rolled from Malaysian slab in the domestic market.
Indonesia has also strengthened its presence, increasing its supply by 188% to 234,038t, capturing an 8% market share. Saudi Arabia has ramped up its supply, contributing 151,705t from January to September, which accounts for 5% of Turkey's total imports in the first three quarters of 2024. Vietnam increased shipments by 94% to 101,131t, securing a 4% share of the market.
Algeria has emerged as a new supplier from August, already delivering 50,626t year-to-date, which represents a 2% market share. India and Libya supplied 25,394t and 22,878t, respectively in the nine months.
Oman, Uzbekistan, and the United Arab Emirates, not being slab producers, may serve as relabelling sources for supplies from sanctioned nations.
Source:Kallanish
