In the January-September period of this year, Turkey's steel exports decreased by 4.5 percent year on year to 13.3 million mt, while the value of these exports totaled $10.11 billion, down 3.3 percent, both on year-on-year basis, according to the data released by the Turkish Steel Exporters' Association (CIB). Meanwhile, in September alone, Turkey's steel exports increased by eight percent year on year to 1.4 million mt, while the value of these exports totaled $1.89 billion, up seven percent, both on year-on-year basis.
In the January-September period of this year, Turkey's main steel export destination was the Middle East, which received 4.58 million mt, down 22 percent year on year. The Middle East was followed by the EU countries, North America and North Africa, which imported 2.32 million mt, 1.8 million mt and 1.5 million mt of Turkish steel products respectively. During the given period, Iraq, previously the country which was the number one export destination for Turkish steel, was in second place due to negative developments in the region. On country basis, in the given period Turkey's main steel export destinations were the US, Iraq and the UAE, with 1.5 million mt, 1.29 million mt and 1.18 millon mt, respectively. The largest year-on-year increases in Turkey's steel exports were recorded to the US, the UK, Morocco, Israel and Canada, while the largest decreases were seen in export volumes to Saudi Arabia, Iraq, Italy, Libya and Portugal.
On the other hand, in the first nine months this year Turkey's main exported steel product was rebar with total rebar exports amounting to 5.76 million mt. Rebar was followed by steel pipe exports totaling 1.44 million mt, steel profile exports totaling 1.37 million mt and hot rolled flat steel exports amounting to 1.24 million mt.
"The reasons for the 4.5 percent of decline [in volume] in Turkey's steel exports in the first nine months this year can be explained by the political fluctuations in our primary export markets and antidumping and safeguard investigations that we struggle with. Despite these negative conditions, Turkish steel producers succeeded in increasing their exports in August and September. As a result, we had the opportunity to reduce the declining rate in our steel exports in the third quarter of this year, compared with the first half. However, we have to keep an eye on Chinese steel exports to avoid negative circumstances. On the other hand, in September this year we experienced a recovery trend in Turkish steel exports to Iraq, after seeing significant declines in the previous months. It seems that we will achieve our goal of 17.5 million mt steel of exports for this year," said Namık Ekinci, chairman of the Turkish Steel Exporters' Association.