In the first seven months of the current year, Turkey's steel exports totaled 10.6 million mt, down 6.7 percent year on year, while the value of these exports decreased by 5.1 percent year on year to $8.07 billion, according to the data released by the Turkish Steel Exporters' Association (CIB). Meanwhile, in July this year Turkey's steel exports amounted to 1.38 million mt, down 2.3 percent year on year, and the value of these exports decreased by 2.9 percent year on year to $1.06 billion.
In the first seven months of this year, Turkey's main steel export destination was the Middle East, despite the 21.4 percent year on year decline in steel imports from Turkey, amounting to 3.70 million mt. The Middle East was followed by the EU countries, North America and North Africa, which imported 1.92 million mt, 1.30 million mt of steel and 1.18 million mt respectively. On country basis, in the given period Turkey's main steel export destinations were Iraq, the US and the UAE, with 1.90 million mt, 1.20 million mt and 794,000 mt, respectively. The largest year-on-year increases in Turkish steel exports were recorded to the US, the UK, Israel, Morocco and Canada, while the largest decreases were seen in export volumes to Saudi Arabia, Italy, Iraq, Oman and Libya.
On the other hand, in the first seven months this year Turkey's main exported steel product was rebar with total rebar exports amounting to 4.57 million mt. Rebar was followed by steel pipe exports totaling 1.12 million mt, steel profile exports totaling 1.09 million mt and hot rolled flat steel exports amounting to 996,000 mt.
Turkish Steel Exporters' Association chairman Namık Ekinci commented, "Turkish steel exports to Iraq decreased significantly in June and July this year. Our presumption that problems in Iraq will continue until the end of this year and anti-dumping and countervailing duty investigations towards Turkish steel producers led us to revise our year-end target for Turkish steel exports, reducing it to 17.5 million mt from 18.5 million mt."