Turkey’s merchant bar export markets show transformation in 2009

Tuesday, 16 June 2009 16:57:12 (GMT+3)   |  
       

In this week's Turkish merchant bar market analysis we will take a look at the Turkish export market data for merchant bars lately published by the IMMIB (Istanbul Mineral and Metals Exporters' Association). The data in question indicate a significant change in Turkey's merchant bar export markets in the first five months of 2009 compared to the same period last year. Drawing a conclusion from the relevant figures, it may be said that some regions, Europe in particular, have been affected to a greater extent by the financial crisis.

According to the IMMIB data, Turkey exported approximately 750,000 mt of merchant bars in January-May 2008, whereas it only exported around 559,000 mt of merchant bars in the corresponding period of this year, indicating a decrease of 191,000 mt.

Looking at the figures for the export markets, Turkey's merchant bar exports in the January-May 2008 period went to the following destinations (figures are approximate):

Romania, 93,000 mt
UK, 80,000 mt
UAE, 68,000 mt
Morocco 59,000 mt
Greece 43,000 mt

European countries and the UAE are seen to be the main importers of merchant bar from Turkey in this period.

However, in January-May 2009 Turkey's main merchants bar export markets were as follows (figures are approximate):

Iraq, 88,000 mt
Syria, 43,000 mt
Saudi Arabia, 39,000 mt
Morocco, 35,000 mt
Algeria, 34,000 mt
Egypt, 30,000 mt

It is worth remarking that in the first five months of 2009 only 22,000 mt of merchant bars were exported to Romania, the leading export market in the same period in 2008. On the other hand, while Iraq is the leading merchant bar buyer country from Turkey in the first five months of this year, only 26,000 mt of merchant bars had been exported to this country in the corresponding period of last year.

In short, a transformation is seen to have occurred in Turkey's merchants bar export markets in January-May 2009 compared to the same period of 2008. While the importance of last year's big export markets such as the European countries and the UAE has declined in the current year, the merchant bar export volume from Turkey to Iraq and North Africa has registered a significant increase in the first five months of this year.


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