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Turkey’s Stainless coil import rate slash out by 24% in 2012

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by - 10/31/2012 5743 Views

As per recent report, it is proven that the import and export ratio of Turkey shells out to 24% in this month when compared to the import rate of July due to the strengthening demand of nickel.

Recent statistics revealed by the Turkish Statistical Institute (TUIK) says that Turkey imported 24,529 tons of stainless steel or coil in this month declining by 20% year on year and shells out by 24% in comparison to the import rate of July 2012.

In August, the country’s export revenues and values produced by stainless steel coils flatted to US$62.8 million which in turns declining by 22% from month to month. At the first six months of the year, the scrap trade market of Turkey was drastically changed and Turkey’s import of scrap metals is amounted to 245,926 tons.

                                             

Meantime, the trade rage was reversed and Taiwan was the largest exporter of stainless steel to Turkey with 56,908 tons and South Korea was in the second place of exporter with 32,940 tons falling to 10% when compared to Taiwan and so Germany is the third largest avenue for exporting scrap coils to Turkey falling to 5% of export rate. Regarding to these all factors, the price of stainless steel coil in Turkey was dramatically increased.

Beside these, one Turkish merchant commented that buyers who have stocks of coils in their inventories did not accept the reversed price of coils as yet they are expecting that the nickel price would go down again which in turn pushes the stainless steel coil price to go down.

Category : Metal

Tags : trade, import, export, stainless steel coils


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About sunitha k.s

It’s me Sunitha from RecycleInMe. I write interesting news and updates related to recycling and scrap trading industry. Being an environment enthusiastic, I am feeling so proud to work in RecycleInMe (RIM).

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