Turkey’s steel exports down four percent in August from July

Thursday, 08 September 2011 17:36:21 (GMT+3)   |  
       

According to the preliminary statistics provided by the Istanbul Mineral and Metals Exporters' Association (IMMIB), in August this year Turkey's total steel product exports amounted to 1.38 million metric tons, increasing by 1.24 percent year on year but down 4.1 percent compared to July this year. Meanwhile, the revenue generated by these exports totaled $1.236 billion, down by 0.63 percent compared to August last year.

In August, rebar exports accounted for 34.56 percent of the country's total steel product exports, while billet exports constituted 19.7 percent, exports of steel section made up 10.8 percent, exports of flat steel constituted 7.86 percent, steel pipe and fitting part exports accounted for 7.6 percent and wire rod exports for 6.7 percent.

On the other hand, in the first eight months of the year, the country's total steel product exports reached 12.11 million metric tons, while the revenue generated by these exports amounted to $10.23 billion, increasing by 7.7 percent and 30.92 percent respectively, both compared to the corresponding period of 2010.

In the January-August period, Turkey's steel product exports to the UAE, its largest market for steel exports, amounted to 1.12 million metric tons, down 18.03 percent year on year, with a value of $762 million, 0.4 percent lower than in January-July 2010. Exports to Italy, amounted to 1.05 million metric tons, increasing by 330 percent year on year, totaling a value of $799 million, up 358 percent year on year. Turkey's steel product exports to Iraq during the period came to 890,830 metric tons, up 21.35 percent year on year, with a value of $779 million - up 41.6 percent year on year.

Turkey's top 10 steel export destinations in August 2011 are as follows:

Country

Volume (mt)

Saudi Arabia

         159,950

Iraq

         110,055

Egypt

           92,330

Israel

           87,981

Italy

           71,916

UAE

           67,646

Syria

           65,883

Morocco

           50,503

Hong Kong

           40,259

Venezuela

           40,188


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