In September this year, Turkey's total steel product exports amounted to 1.6 million metric tons, rising 11.9 percent compared to the same month of the previous year and down 5.3 percent momth on month, with a total revenue of $1.22 billion, decreasing 3.8 percent from September 2011 and down 4.7 percent compared to the previous month, according to the Turkey's Steel Exporters' Association (CIB). The year-on-year decrease in steel exports value in September was due to the fall of commodity prices on the back of the financial contraction.
The Middle East was Turkey's largest destination for steel exports in September this year, receiving 547,000 metric tons, while it was followed by North Africa with 187,000 mt and the EU countries with 175,000 mt. The most exported steel product in terms of volume was rebar amounting to 763,000 mt, followed by 218,000 mt of steel billet, 163,000 mt of steel pipe, 143,000 mt of section steel and 75,000 mt of wire rod in the month in question.
Meanwhile, in the first nine months of the current year Turkey's total steel product exports amounted to 15 million metric tons, up 10.7 percent compared to the same period last year. The revenue generated by these exports in January-September this year totaled $11.8 billion, increasing by 3.2 percent year on year.
In the first nine months of the current year, the Middle East was Turkey's largest destination for steel exports, receiving 6.2 million metric tons. In the given period, Turkey's steel product exports to the EU amounted to 1.6 million mt, while North Africa imported 1.5 million mt of steel products from Turkey.
Compared to the same period last year, the largest steel export increases in January-September this year were recorded in exports to non-EU European countries, North America, western Africa, the Middle East and Australia and Oceania. In the first nine months, exports of rebar, which ranks first among the country's exported steel products in terms of volume, amounted to 6.7 million mt, while Turkey exported 2.35 million mt of steel billet, 1.35 million mt of steel pipe, 1.31 million mt of steel section and 836,000 mt of wire rod in the period in question.