Influence of Turkey's earthquake on China's stainless steel industry
Time:Wed, 15 Feb 2023 09:21:14 +0800
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On February 6, Turkey was hit by two earthquakes with a magnitude of 7.8. Turkey is an important trade hub connecting Asia, Europe, and the world. The earthquake will have a certain adverse impact on international trade and transportation.
In terms of stainless steel, Turkey is mainly an import-demand country. According to statistics, the net import volume in 2022 was 619,500 tons. Since 2021, China's stainless steel exports to Turkey have increased significantly.
In 2022, China's total stainless steel exports to Turkey were 500,000 tons, accounting for 10.98% of the total exports of 4.55 million tons,
The earthquake had a very limited impact on China's stainless steel industry, but it will slightly interfere with the production of domestic metal smelting enterprises in Turkey. At the same time, Turkey's demand for reconstruction may stimulate the increase of stainless steel imports from China, which may increase the demand for Chinese stainless steel.
