Posted on 21 Oct 2021
Singaporean steel imports have been hit by continuing lockdowns but volumes are still up from 2020. Shipments are being driven by a growing number of longs suppliers, in particular Turkey and India, Kallanish notes.
Singapore’s steel imports in September fell 38% month-on-month, but still gained 53% year-on-year to 201,572 tonnes. January-September imports were 2.691 million tonnes, up 1% year-on-year.
By product, longs composed the majority of Singapore's imports in September at 104,861t, a 52% decline m-o-m but a 191% increase y-o-y. Nine-month longs imports were up 28% at 1.529mt.
Three key trades drove longs volumes in September. 34,770t of Indian hot rolled bars were imported in the month, from essentially zero a month and a year earlier. Over nine months, hot rolled bar imports from India totalled 59,082t, up from almost zero in 2020. Singapore also imported 11,337t of wire rod from United Arab Emirates, the first large-scale shipment from there since 2019.
18,632t of Turkish wire rod was also imported in September, compared to nothing a year earlier and 32,617t in August. Over January-September, Singapore imported 233,035t of Turkish wire rod, up around 225% y-o-y.
Singapore also saw flats imports of 58,277t, a 20% m-o-m dip but an 11% y-o-y increase. Over January-September flats imports were 819,737t, down 22% y-o-y.
Singapore’s pipe imports were 38,239t, up 16% m-o-m and 29% y-o-y. However, through the opening nine months pipe product imports were 332,306t, down 16% y-o-y.
Source:Kallanish
