The Turkish Steel Exporters' Association (CIB) has stated that in the first four months of this year Turkey’s overall steel exports decreased despite the increases in its steel exports to North Africa and the EU. In the January-April period of the current year, Turkey's steel exports fell by 3.1 percent year on year to 5.5 million mt, while the value of these exports totaled $2.8 billion, down 25 percent on year-on-year basis, according to the data released by the Turkish Steel Exporters' Association (CIB).
In the January-April period, Turkey's main steel export destination was the Middle East, which received 1.9 million mt of steel products from Turkey. The Middle East was followed by North Africa and the EU, both of which imported one million mt of Turkish steel products. In the given period, Egypt, Israel and Spain recorded the highest year-on-year increases in steel product imports from Turkey.
Meanwhile, in the given period, Turkey's main exported steel product was rebar with total exports amounting to 2.5 million mt. Rebar was followed by hot rolled flat steel exports totaling 687,000 mt, welded pipe exports amounting to 621,000 mt, and steel section exports reaching 523,000 mt.
In April alone, Turkey's steel exports fell by 18.5 percent year on year to 1.3 million mt, while the value of these exports totaled $700 million, down 28.3 percent compared to the same period of 2015.
“The increases in the exports to North African and EU countries did not prevent the decrease in our total steel exports. We continue to improve our commercial affairs with our export markets; however, China’s aggressive export policy, the changes in iron ore prices in the global markets and the decline in commodity prices affect us negatively. We will be able to overcome these adverse conditions coming from both the domestic market and overseas with structural transformation,” commented CIB chairman Namık Ekinci.