In the first quarter this year, Turkey's steel product exports to the European Union in the first three months of 2012 fell by 37.9 percent year on year to 634,000 metric tons, according to a statement released by the Turkish Iron and Steel Producers' Association (DCUD). Meanwhile, in the first quarter of 2012 Turkey's steel product exports to the Far East and Southeast Asia region fell by 41.2 percent year on year to 278,000 mt and exports to the Middle East and Gulf Region were down 2.4 percent year on year to 1.86 million mt.
On the other hand, in the first quarter Turkey's steel product exports saw a year-on-year increase of 98 percent to the US and a rise of 42.8 percent year on year to North Africa. In the period in question, Turkey's overall steel product exports rose 10.9 percent compared to the corresponding period of the previous year to 5 million mt, while the revenue generated by these exports came to $4.28 billion, increasing by 11.3 percent year on year.
In the January-March period of this year, Turkey's steel product imports from the CIS, its largest steel import market, fell by 21.7 percent year on year to 981,000 metric tons, while steel product imports from the EU rose by 12.8 percent compared to the first quarter of the previous year to 1.24 million mt and steel product imports from the Far East and Southeast Asia increased 45.8 percent year on year to 333,000 mt in the period in question.
Turkey's total steel product imports in the first quarter dropped 4.7 percent to 2.67 million mt, while the value of the total steel imports fell 9.3 percent to $2.64 billion, both year on year.