Turkey imported 288,500 mt of stainless coil in the first five months of the year, higher than 248,000 mt imported in the same period the previous year, while the cost of these imports totaled $566 million, 24% higher on year due to higher steel pricing globally.
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East Asian suppliers continued to raise their shares in the Turkish stainless steel market with competitive prices in that period, the latest monthly Turkish Statistical Institute (TUIK) data showed.
China became Turkey's top stainless flats supplier in January-May by shipping 96,000 mt to Turkey, 47% higher on year. If this increasing trend continues, Chinese stainless exports to Turkey could exceed 200,000 mt in 2021.
Turkey's stainless sheet imports from South Korea remained relatively strong on year at 70,000 mt through May.
Turkey imported 21,700 mt of stainless steel coil from Spain in the five-month period, while imports from Italy totaled 16,500 mt, the latest data showed.
Turkey's sole stainless cold-rolling mill, Posco Assan TST, based in Izmit, Kocaeli, near Istanbul, has production capacity of 300,000 mt/year of 0.3-3.0 mm thick stainless cold-rolled coil up to 1,600 mm wide.