In August this year, Turkey's steel exports increased by 8.2 percent year on year to 1.36 million mt, while the value of these exports totaled $799 million, down 16.4 percent on year-on-year basis, according to the data released by the Turkish Steel Exporters' Association (CIB).
In the first eight months of this year, Turkey's steel exports declined by 8.4 percent to 10.8 million mt, while the value of these exports totaled $6.9 billion, down 22.9 percent, both on year-on-year basis. In the given period, Turkey's main steel export destination was the Middle East, which received 4 million mt. The Middle East was followed by the EU and North Africa, which imported 1.6 million mt and 1.2 million mt of Turkish steel products respectively.
“In the first eight months of the current year, Turkey’s steel exports declined by eight percent, while the value of these exports declined by 22 percent. The reason for this gap between the two figures is the continuing downward trend in raw material and steel prices around the world. Our industry can increase its competitiveness by focusing on value-added production,” commented CIB chairman Namık Ekinci.