• Tufan Demir çelik Blogu
    Tufan Demir çelik Blogu

    20% Increase in Turkish Steel Exports in Q1:                   May 9th, 2017

    Overall 4% year on year increase in Turkish exports pushed the last month’s exports, making steel sector to experience the highest increase among all sectors. As Turkey’s export reached 11 billion 866 million dollars, according to Turkish Exporters Assembly steel exports reached 4 billion dollars with an increase of 43% compared to last year.

    Exports to the European Union, Turkey’s main trade partner, rose by 3.3% in April, and they had increased by $2.1 billion during the first quarter of 2017.

    Turkish finished steel output also rose by 1.2% to 9.2 million mt. whereas steel exports equaled 5.22 mln tons.


    Steel Exports to EU Increased by 86% in 2017:           March 16th, 2017 

    Based on data provided by Turkish Steel Exporters’ Association, steel exports rose by 12.6% during the first two months of 2017. Reaching 3.2 million tons in the first two months, in terms of total volume; current export levels reached highest levels compared to last four years’ data. Wire rod and billet exports experienced highest increase whereas section steel and rebar exports saw a slight decrease.

    While EU has been the top destination for exports with 848,000 tons with 86% increase, exports to Middle East reached 755,000 tons, whereas exports to North America and North Africa amounted 526,000 and 302,000 respectively. Overall export value increased by 31.3% to $1.8 billion, incentivizing further attempts for Turkish Steel exporters to expand their reach.

    Rebar as the most exported steel product during the first two months was sold 1.35 million tons, followed by hot rolled steel exports reaching 337,000 tons. While Welded pipe (298,000 tons), and wire rod (290,000 tons) also experienced a jump, section steel exports were comparably lower with 233,000 tons.


    -  Turkey’s Steel Exports Up By 0.4%, Finished Steel Output Stable as Consumption Rises   Jan 17th, 2017

    As we begin a new year with focus on further customer acquisition from European market, Turkish Steel Producers’ Association (TCUD) published 0.4% increase in steel exports on yearly basis to 15.3 million metric tons, while flat steel exports increased to 2.68 million metric tons through 17% increase.

    Based on the findings from November 2016 with comparison to same month from 2015; steel exports reached 1.35 million metric tons via 8.3% jump, valued $918.8 million. Increase in exports of flat steel products remained stable, and Turkey’s flat steel exports grew by 45.3% to 298,000 metric tons. On the other hand, long steel products experienced 1.1% decrease in comparison.

    Between January – November 2016, finished steel output remained stable with 33.9 million metric tons while its local consumption rose by 0.1%. The eleven-month period also experienced 2.4% flat product output growth accompanied by 0.5% increase in consumption according to Turkish Steel Producers’ Association’s report published on 3th of January 2017.   


    -  Post Brexit EU Steel Market & Demand for Third Suppliers                                              Oct 27th, 2016

    Tufan Iron & Steel’s experience with trend of increasing demand from its European partners have been discussed in our headquarters throughout the month.

    EUROFER Director General Axel Eggert’s recent statement: “Imports in July and August bounced back to higher levels seen earlier this year. SURV2 data for September shows the highest level of finished product imports since October 2015, suggesting that import pressure will remain high in the future” summarizes last few months’ news regarding latest increase in demand from European market.

    EU steel consumption rose by 2.3% year-on-year during 2nd quarter of 2016, pointing out to increasing activity in steel using sectors. With antidumping efforts offering some degree of relief, rest of 2016 comes with expectations of destocking, rise in total consumption by 2.2%; it becomes obvious third country suppliers such as Tufan Iron & Steel will benefit most from modest uptrend in demand.

     Here’s EUROFER’s full report: Economic & Steel Market Outlook 2016-2016.
    (Eurofer 2016)


    1.9% increase in Turkish Steel Exports in 2016:                                                              September 15th, 2016       

    Turkish Steel Exporters Association’s recent publication show 1.9% increase in Turkish steel exports’ performance throughout 2016.

    Most exported steel product was rebar with 4.9 million tons, hot rolled steel exports totaled 1.2 million tons, welded pipe and flat profile exports reached 993,000 tons, and wire rod exports jumped up to 654,000 tons.    

    With 3.7 million tons Middle East was the first destination for local exporters. Yemen, Egypt and Israel were some of the top destinations for Turkish steel exports in the zone. First eight months’ exports for North Africa, North America and Europe totaled 2.2 million tons.
     
    - Finished Steel Production Experiences 2.3% Growth:     September 8th, 2016

    Local finished steel production between January - July 2016 increased by 2.3%, up to 21.88 million tons YoY according to TCUD (Turkish Iron and Steel Producers’ Association).

    During first eight months, domestic steel consumption of long products rose by 6.4% to 10.7 million tons YoY, while flat steel consumption reached 10.4 million tons YoY with 4% growth.

    In the same period, long steel production was up by 3.5% (reaching 15.68 million tons YoY), flat steel production was by 0.6% (totaling 6.2 million tons YoY). 72% of the finished steel production was long steel output, and rest accounted for flat steel output.   
            
    Current numbers indicate 5.2% total growth in finished steel consumption with 20.83 million tons compared to 19.7 million tons. 

    - China Fell Behind its Anti-Dumping Goals                              August 22nd, 2016


    While China fell behind its antidumping goals during the first half of 2016, massive 300 million tons of overcapacity and recent price hikes have encouraged Chinese firms to ramp export production even further.

    As a reaction to increase in Chinese export production, many countries including United States slapped duties up to 450% on some of the Chinese steel imports. Although not much is currently known about European Commission’s next steps regarding future trade defense measures for autumn, latest anti-dumping duties on Chinese reinforced bar, cold rolled carbon steel, and cold rolled stainless steel range between 18.4% and 25.4% (Reuters).  

    Chinese steel imports rose by 53.2% in Turkish market between January – June 2016. Parallel to the growing construction sector bubble within the country, and expectations on current local interest rates Turkish crude steel production rose by 3.6% followed by 6% growth in steel consumption. According to today's World Steel Association publication, local crude steel production for July 2016 was 2.7 Mt, up by 6.5% compared to July 2015.  


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    June World Crude Steel Production Is Steady                              July 23rd, 2016

    Monthly crude steel production figures show that 135.7 million tons are on par with figures from June 2015. While European output fell 5.3% on average (temporarily including UK with its 36.2% fall), Turkish steel production was up by 2% with 2.9Mt based on World Steel Association. Tufan Demir Celik is currently experiencing an exceptional increase in demand for its stainless steel products and galvanized plates from foreign customers.  


    Source:
    http://www.worldsteel.org/media-centre/press-releases/2016/June-2016-crude-steel-production0.html

    MEPS World Composite Steel Price Increased 0.6%:             June 30th, 2016       
    As a reaction to supply shortages and trade petitions in North America, the regional average price resulted in 5.6% price surge, while local steel industry expects stabilization in its sales figures.  

    In June, both European and Asian selling values fell based on month to month comparison, respectively by 2.3% and 3.4%. As a result of Brexit, Tata Steel is considering partnership options in EU market by putting emphasis on sale of its UK business. Due to European suppliers’ reduced allocations to UK; sourcing difficulties within UK have emerged, while pushing the price increases within the country. In continental Europe, French market remains subdued, Belgian demand is considered satisfactory, whereas the recent rapid price advances in the Spanish steel market levelled out. Based on MEPS International’s findings, EU flat product steel prices are nearing their peak.

    China’s steel sector has been urged to reduce excess manufacturing capacity, past years’ trends in the country may prove little evidence to suggest supply cut will be made within the following months.                                                            
                Source: World Steel News
     
    World Steel in Figures (2016):                                                   May 27th, 2016       


    Accounting for crude steel production, steel use, indications of global street trade flows to iron ore production and trade, WSA association published its findings for 2016’s numbers. Based on the results Turkish steel use per capita for the previous year was 436.8 kilograms, making it the 9th highest ranked country in the world.




    https://www.worldsteel.org/media-centre/press-releases/2016/World-Steel-in-Figures-2016-is-available-online.html
     
    March World Crude Steel Production Hits 137.3M:                  April 20th, 2016       
    Based on Worldsteel’s publication, March 2016’s crude steel production hit 137.3 million tons, pointing out to 3.4% decrease compared to 2015’s findings for the same month. Outside of Chinese production, which accounts for 51% of world production within the month, decrease shows significant drops in Asian markets: Japan (6.8%), South Korea (8.4%), and Taiwan (14.7%). In addition, European Union’s output was also parallel to developments in Asian market, signaling 3.7% decrease.
    On the hand, Turkish crude steel production increased by 1.15% compared to February. Switzerland’s production stayed comparably same, whereas Norwegian production experienced a slight decrease.


    Turkish Metal Manufacturing Capacity Set to Increase:            February 1st, 2016  

    According to Central Bank of Turkey, the capacity utilization rate improved by 0.6% (up to 74.9%) in December 2015 in basic metal manufacturing industry, whereas capacity utilization rate was found 74.2%.

    Although January 2016 pointed out to -0.09 decrease in local machinery and equipment utilization rate (down to 71.2%); this number was accompanied by higher capacity utilization rate, 74.9% in January 2016.

     

     

    EU Steel Exports Expected to Grow 2.5%:                                             January 15th, 2016  

    Recovering from last year’s comparably slower exports, Q4 2015 report offered by EUROFER (Economic Committee of European Steel Association) indicates exports will increase by 2.5%.

    Partnerships with suppliers from third countries; United States, Canada, Turkey and Algeria are expected to offer a comparably more positive outlook. In addition, demand in long steel products point out to continuous preference over beam, wire rod and rebar. Considering the improving demand, it is natural to assume supplies will be increased parallel to findings on EUROFER’s report coupled with speculations regarding the geographically shifting demand that is set to leave Chinese suppliers over period of time.



    2015 Chinese Crude Steel Production:                                                    November 15th, 2015  

    Parallel to post-2008 global crisis tendencies within the sector, we have seen increasing production numbers from different regions over the last 4 years. In 2015, China's net exports in September pointed out to a new record high at 10.3 million tonnes (comparably speaking this number is 43% higher than September 2014). Still, China's slowing economy affected the global demand for steel.

    Knowing the regional economy holds almost half of the entire sector's production within its own means, initial period: January - February witnessed a production boom followed by lower production output levels when contrasted with 2014's steady production during the last quarter. The country has been benefiting from lower production costs and supplies, moreover it seems as the country will keep slashing the pricing for even more competitive ground within world economy.


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    According to MEPS International LTD, between 2014 August and 2015 July price drop was around 28.37% (http://www.meps.co.uk/Asian%20Price.htm). Considering the news from past few months, it will be interesting to see different regional markets' reaction as United States already took steps for protecting its local production; whereas EU countries such as UK are looking for a solution. 

    For further information regarding UK's current relationship with EU in this manner; BBC recently published an article about the topic.



    EU Demand for Steel Set to Increase by 1.5% in 2015                     October 15th, 2015  


    China's slowing economy, decreasing prices of goods, high energy costs and overproduction lead to series of considerations in European steel market. Considering 40% drop in Chinese flat steel export prices, China is expected to increase its production while slashing the prices in several categories as the biggest producer and consumer from global perspective.  While these changes make the markets more competitive for European producers, Eufer's latest numbers depict a growth in demand  for steel within local markets yet main beneficiaries seem to be the outside suppliers for EU producers.

    While global prices are at low level due to fluctuations in growth structures and demand, Eufer believes positive developments during early 2015 regarding private consumption, coupled with comparably lower inflation and falling unemployment could offer a potential gain for European steel manufacturers with competitive partnerships. Based on recent findings, 2015's potential gains will require intensifying communication with local steel producers and those in OECD region such as Turkey, China and India to ensure a global level playing field.




    WorldSteel Revises Consumption Growth                                       October 12th, 2015

    Worldsteel recently published its SRO report encompassing the changes in both global and regional growth for steel consumption for 2015 and 2016. While latest revision lowered estimated world steel consumption growth, the growth percentage for European Union region seems to be 1.3% (which was 2.1% in earlier forecasts this years) while 2.2% growth is expected in 2016. NAFTA region's revision entailed further downward activity; 0.9% to -2.7% for 2015, and 1.3% to 2.1% for the following year. 
                      
    Here you can find a snippet of a very useful excel chart prepared by Jessica Wagner of nerdsofsteel for steel consumption:

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    World Crude Steel Production in August                                 September 15th, 2015

    With Worldsteel's announcement this month, we have seen overall decrease in production in several regions when compared to 2014. 

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    -  Anti-dumping Duties on China & Taiwan Imports                              August 30th, 2015

    The European Commission published definitive anti-dumping duties on imports of stainless steel cold-rolled flat products originating in China and Taiwan. Imposition of definitive anti-dumping duty rates of up to 25.3% for Chinese imports and 6.8% from Taiwanese imports can be seen as a reaction to dumped imports from two countries at massive scales in 2014. According to Eurofer, 2014's dumped imports resulted in undercutting EU producers' sale prices by more than 10% while the provided injury margin was over 20%. 

    Starting from 2010, due to problematic overcapacity problem in both countries, dumping severely undermined the profitability while testing the open markets' limits. Excess production and dumping have been affecting industry's economic sustainability as well as its growth. 

    For more information, please check Eurofer's statement



    -  Global Steel Industry Calls to Take Action                                             July15th, 2015

    AISI, SMA, CSPA, SSINA, CPTI, Canacero, Alacero, Eurofer, Turkish Steel Producers Association, and Brazilian Steel Institute published a joint statement regarding critical issues stemmed from Chinese dumping and practices in steel industry.

    Joint Statement

     GLOBAL STEEL INDUSTRY CALLS ON GOVERNMENTS TO TAKE ACTION 
    AGAINST CHINA´S NEW STEEL POLICY AND OVERCAPACITY

    There is a strong consensus against the rising tide of exports from state-owned, supported or controlled steel industries, as was once again demonstrated at the recent meeting of the Organization for Economic Cooperation and Development’s (OECD) Steel Committee in early May.   The reports shared at the meeting in Paris by the national steel industry associations from Asia, the Americas and Europe were striking in their similarity: a new normal has taken hold, characterized by slowed growth, with all regions suffering from a dramatic increase in unfair steel imports that is fueled by massive global  overcapacity.  Looming over it all is China, whose massive and increasing overcapacity in an era of slowing growth has already destabilized the global steel market and trade flows.

    This follows closely upon joint comments submitted by eight steel trade associations representing the U.S., Canada, Mexico, Latin America and Europe on China’s recently released “Steel Adjustment Policy.” The comments expressed concern about the policy, as it continues to reflect a “top-down, state-dominated approach to reforming the steel industry.”

    The OECD Steel Committee took note of the urgency of these concerns, as reflected in the closing statement issued by Steel Committee Chairman Risaburo Nezu: “Structural challenges must be addressed urgently amid [the] new era of low steel demand growth and rising exports,” adding, “a failure to address or halt market distortions will result in subsidized and state-supported enterprises surviving at the expense of private and efficient companies operating in environments with minimal government support.”

    The undersigned associations agree that the need for immediate and effective action is urgent. We reaffirm our call on each national government to address this issue in their own country and make every effort in their own trade diplomacy and regulations to confront and challenge those government policies that are feeding the overcapacity that is at the root of the current steel crisis and provide a level playing field in the steel market.

    One specific issue facing governments soon is China’s assertion that it should be treated as a market economy by WTO members starting at the end of 2016.  Each individual nation´s determination will have large consequences for how parties injured by dumped Chinese imports will be able to recover for the injuries they incur.  As the steel sector in China so clearly illustrates, China does not yet meet the test of being a market economy. The existence of the overcapacity itself, estimated at up to 425 million metric tons, and the lack of an effective policy to reduce it are evidence that China is still a topdown state-driven economy.

    This is a critical issue which must be addressed quickly. For that reason, we will continue to collaborate in our individual efforts to make the case to our governments to carefully judge the criteria and the record before making any statements or decisions that might prematurely recognize China as a market economy.

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