In February, Turkey's steel product exports witnessed an increase of 2.83 percent month on month, after posting month-on-month declines for the previous three months, while a larger growth rate in the revenue earned by these exports was recorded compared to January, reflecting an increased average export price.
According to the preliminary statistics provided by the Istanbul Mineral and Metals Exporters' Association (IMMIB), in February this year Turkey's total steel product exports amounted to 1.25 million metric tons, decreasing by 25.17 percent year on year. Meanwhile, the revenue generated by these exports totaled $806.45 million, down by 19.1 percent compared to February last year.
As compared to January this year, Turkey's steel product export volume in February rose by 2.83 percent, while the revenue from steel product exports surged by 18.39 percent.
In January, steel bar exports (including rebar) accounted for 39.04 percent of the country's total steel product exports, while section exports constituted 10.5 percent, exports of steel billet made up 14.8 percent, exports of pipes and fittings constituted 10.31 percent, wire rod exports accounted for 9.88 percent and flat steel exports for 4.07 percent.
Turkey's top ten steel export destinations in February 2010 are as follows:
Country | Volume (mt) |
Egypt | 144,702 |
UAE | 136,997 |
Israel | 78,709 |
Singapore | 78,394 |
Iraq | 74,302 |
USA | 53,724 |
Thailand | 50,250 |
Yemen | 49,382 |
Saudi Arabia | 48,652 |
Algeria | 38,483 |
On the other hand, in the first two months of this year, the country's total steel product exports reached 1.3 million metric tons, while the revenue generated by these exports amounted to $1.49 billion, decreasing by 30.51 percent and down 24.35 percent respectively, both compared to the corresponding period of 2009.