Turkey’s steel export volume falls 1.88 percent in July

According to the preliminary statistics provided by the Istanbul Mineral and Metals Exporters' Association (IMMIB), in July this year Turkey's total steel product exports amounted to 1.4 million metric tons, decreasing by 1.88 percent year on year. Meanwhile, the revenue generated by these exports totaled $1.244 billion, up by 22.24 percent compared to July last year.

As compared to June this year, Turkey's steel product export volume in July fell by 4.66 percent, while the revenue from steel product exports decreased by 4.73 percent.

In July, rebar exports accounted for 36.29 percent of the country's total steel product exports, while section exports constituted 9.83 percent, exports of steel billet made up 12.94 percent, exports of pipes and fittings constituted 8.22 percent, wire rod exports accounted for 8.27 percent and flat steel exports for 15.96 percent.

On the other hand, in the first seven moths of the year, the country's total steel product exports reached 10.74 million metric tons, while the revenue generated by these exports amounted to $8.99 billion, increasing by 8.64 percent and 31.06 percent respectively, both compared to the corresponding period of 2010.

In the January-June period, Turkey's steel product exports to the Middle East, its largest market for steel exports, amounted to 3.71 million metric tons, decreasing by 7.71 percent year on year, totaling a value of $2.76 billion, up 9.67 percent year on year. Turkey's steel product exports to the EU-27 during the period came to 2.5 million metric tons, up 109.35 percent year on year, with a value of $2.43 billion - up 116.74 percent. Exports to North Africa amounted to 1.02 million metric tons, down 43.21 percent year on year, with a value of $802 million, 33.97 percent lower than in January-July 2010.

Turkey's top 10 steel export destinations in January-July 2011 are as follows: