Turkey imported 147,189 tonnes of billet in June at an average price of $530/tonne, down 43% on-year, Kallanish notes.

This was also a 3.5% decline from May, when Turkey imported 152,495t, according to Turkish Statistical Institute (TUIK) data.

Despite being a major supplier in June, Russia’s billet shipments to Turkey fell 78%, totalling 39,509 tonnes in June 2024 at an average price of $518/t. Russia's market share fell from 70% to 27%.

Indonesia shipped 20,750t of billet at an average price of $574/t. Ukraine shipped at 17,260t at $544/t. Both were not among suppliers in the same month a year ago.

Malaysia’s billet shipments fell by 47% to 14,557t in June 2024, with an average price of $523/t, capturing a 10% market share. This contrasts sharply with May, when Malaysia was the leading supplier with a 44% market share, delivering 66,704t at an average price of $564/t.

Pakistan accounted for 8% of Turkey's billet imports in June 2024, with a total of 11,560 tonnes, up 157%, at an average price of $519/t.

Algeria decreased supply by 41% to 9,975 tonnes in June 2024, priced at $533/t and holding a 7% share of Turkey's billet imports.

Iran increased billet shipments by 60%, contributing 7% of Turkey’s billet imports, with 9,896 tonnes at an average price of $505/t.

Countries and territories not specified also represented 7% of the market, with 10,576 tonnes imported at an average price of $521/t.

Turkish HS code 720711 billet imports (tonnes) in June
   Origin     Jun 24    Average price $/t    Share %     Jun 23    Average price $/t     Share %     y-o-y  
 Russia  39,509 518 27 179,462 608 70 -78
 Indonesia  20,750 574 14 -   - - -
 Ukraine  17,260 544 12 -   - -   -
 Malaysia  14,557 523 10 27,401 653 11 -47
 Pakistan  11,560 519 8 4,494 547 2 +157
 Countries, territories not specified  10,576 521 7 -   - -   -
 Algeria  9,975 533 7 16,869 537 7 -41
 Iran  9,896 505 7 6,199 543 2 +60
 Azerbaijan  6,969 513 5 9,177 592 4 -24
 Belarus  5,861 520 4 2,997 602 1 +96
 Kazakhstan  276 505 0 -   - -   -
 China  -     -   10,010 719 4 -100
 Bulgaria  -     -   41 616 0 -100
 Germany  -     -   34 1,578 0 -100
 Total  147,189 530      100 256,686 609    100 -43

Compiled by Kallanish based on TUIK data

Over the first half of 2024, Turkey’s billet imports fell 34%, from 1,896,337 tonnes in H1 2023 to 1,258,497t, resulting in a drop in the monthly average volume from 316,056 tonnes to 209,750 tonnes. 

Billet imports from Russia fell 70%, from 908,850t to 275,133t in January-June 2024, with market share dropping from 48% to 22%. 

Indonesia, which did not supply billet a year ago, supplied 175,916t, taking a 14% share in H1 2024. 

Algeria’s shipments halved to 173,062t in H1, a 50% decrease, with market share dropping from 18% to 14%. 

Malaysia’s billet shipments increased by 92%, from 84,358t to 161,797t, increasing market share from 4% to 13% in H1. 

Saudi Arabia supplied 106,319t, holding an 8% share in H1, whereas the country did not supply any volume a year ago.
 

Turkish HS code 720711 billet imports (tonnes) in H1
  Origin     H1 24     Share %     H1 23     Share %   y-o-y 
Russia 275,133 22 908,850 48 -70
Indonesia 175,916 14 - 0  - 
Algeria 173,062 14 345,469 18 -50
Malaysia 161,797 13 84,358 4 +92
Saudi Arabia 106,319 8 - 0  -
Countries, territories not specified 95,142 8 - 0 -
Iran 58,699 5 73,398 4 -20
Azerbaijan 48,903 4 64,410 3 -24
Ukraine 47,096 4 19,592 1 +140
Pakistan 46,342 4 30,750 2 +51
India 29,912 2 57,643 3 -48
Oman 15,657 1 170,363 9 -91
Belarus 11,846 1 40,211 2 -71
Kazakhstan 11,197 1 -   0 -
Georgia 1,039 0 995 0 +4
Kuwait - 0 61,698 3 -100
China 0 0 22,592 1 -100
France - 0 9,679 1 -100
Italy 35 0 5,397 0 -99
Rest 402 0 931 0 -57
Total 1,258,497 100 1,896,337 100 -34
Monthly average  209,750   316,056    

Compiled by Kallanish based on TUIK data