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Turkey’s Steel Exports Up 3.7 Percent in April

In the first four months of the current year, Turkey’s steel exports totaled 6.3 million mt, down 7.6 percent year on year, while the value of these exports decreased by 7.1 percent year on year to $4.7 billion, according to the data released by Turkish Steel Exporters’ Association (CIB). Meanwhile, in April this year Turkey’s steel exports increased by 3.7 percent to 1.7 million mt and the value of these exports decreased by 0.9 percent to $1.2 billion, both year on year. 

In the first four months of this year, Turkey’s main steel export destination was Middle East, which received a total of 2.28 million metric tons, while exports to the EU countries, North Africa and North America, amounted to 1.23 million metric tons, up 7.3 percent, 773,000 metric tons and 600,000 metric tons respectively. On country basis, in the given period Turkey’s main steel export destinations were Iraq, UAE and US. The largest year-on-year increases were recorded in the UK, Israel, Morocco and UAE, while the largest decreases were registered in Saudi Arabia, Italy, Oman and Iraq.

On the other hand, in the first four months of this year, Turkey’s main exported steel product was rebar with total rebar exports amounting to 2.81 million mt. Rebar was followed by steel section exports totaling 647,000 mt, steel pipe exports amounting to 629,000 mt and 566,000 mt of hot rolled flat steel product exports. 

Turkish Steel Exporters’ Association chairman Namık Ekinci commented, “The 3.7 percent year on year increase in Turkey’s steel exports in April is a significant indicator that Turkish steel sector will at the least compensate the loss of the last year. Meanwhile, the fall of the decrease rate from 11 percent to 7.6 percent in the four months gives us the recovery signals in our steel exports during this year. Also, the increase of Turkey’s steel exports to EU countries in the first four months is an important progress, meaning to regain this market after the decline seen in last year due to ‘Euro’ crisis.”

Source: SteelOrbis

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