Turkey's Billet Imports Drop Significantly in First Four Months of 2024
Turkey's imports of billet and bloom, a semi-finished steel product, witnessed a significant decline in the first four months of 2024. According to data from the Turkish Statistical Institute (TUIK), imports during this period reached one million metric tons, reflecting a decrease of 27.6% compared to the same period in 2023.
The downward trend continued in April, with imports reaching 279,999 metric tons, a 13.3% drop from March and a steeper 35.5% decline year-on-year. This decrease was accompanied by a fall in import revenue. The total value of imports in April amounted to $155.36 million, representing a 15.3% decrease compared to the previous month and a substantial 41.2% decline year-on-year.
Despite the overall decline, Algeria emerged as the leading supplier of billet and bloom to Turkey in the January-April period, providing 163,061 metric tons. Russia, the previous leader, followed with 205,617 metric tons, while Saudi Arabia came in third with 155,165 metric tons.
