Turkey’s steel bar exports sees 55 percent increase in February

In February, Turkey's steel bar exports witnessed a significant increase of 55.26 percent month on month, after posting month-on-month declines for the previous three months. Particularly in January, the country's steel bar exports had decreased over 39 percent compared to the previous month.

According to the data provided by the Istanbul Mineral and Metals Exporters' Association (IMMIB), in February this year Turkey's total steel bar exports, including rebar, amounted to 487,785 metric tons, decreasing by 48.41 percent year on year and up by 55.26 percent month on month. Meanwhile, the revenue generated by these exports totaled $244.65 million, declining by 45.46 percent compared to February 2009 and up 60.16 percent month on month.

In February, the average export price of Turkish steel bar amounted to $502/mt, increasing by $15/mt or 3.15 percent from January levels, and up $25/mt or 5.34 percent from February last year.

Turkey's top ten steel bar export destinations in February 2009:

Meanwhile, in the first two month 2010, Turkey's steel bar exports declined 57.98 percent, reaching 802,248 metric tons, while the revenue for these exports stood at $397.55 million, decreasing by 56.19 percent, both compared to the corresponding period of 2009.