CIB revises downwards its forecast for 2014 Turkish steel exports

Monday, 04 August 2014 11:05:50 (GMT+3)   |   Istanbul
       

In the first seven months of the current year, Turkey's steel exports totaled 10.6 million mt, down 6.7 percent year on year, while the value of these exports decreased by 5.1 percent year on year to $8.07 billion, according to the data released by the Turkish Steel Exporters' Association (CIB). Meanwhile, in July this year Turkey's steel exports amounted to 1.38 million mt, down 2.3 percent year on year, and the value of these exports decreased by 2.9 percent year on year to $1.06 billion.
 
In the first seven months of this year, Turkey's main steel export destination was the Middle East, despite the 21.4 percent year on year decline in steel imports from Turkey, amounting to 3.70 million mt. The Middle East was followed by the EU countries, North America and North Africa, which imported 1.92 million mt, 1.30 million mt of steel and 1.18 million mt respectively. On country basis, in the given period Turkey's main steel export destinations were Iraq, the US and the UAE, with 1.90 million mt, 1.20 million mt and 794,000 mt, respectively. The largest year-on-year increases in Turkish steel exports were recorded to the US, the UK, Israel, Morocco and Canada, while the largest decreases were seen in export volumes to Saudi Arabia, Italy, Iraq, Oman and Libya.
 
On the other hand, in the first seven months this year Turkey's main exported steel product was rebar with total rebar exports amounting to 4.57 million mt. Rebar was followed by steel pipe exports totaling 1.12 million mt, steel profile exports totaling 1.09 million mt and hot rolled flat steel exports amounting to 996,000 mt.
 
Turkish Steel Exporters' Association chairman Namık Ekinci commented, "Turkish steel exports to Iraq decreased significantly in June and July this year. Our presumption that problems in Iraq will continue until the end of this year and anti-dumping and countervailing duty investigations towards Turkish steel producers led us to revise our year-end target for Turkish steel exports, reducing it to 17.5 million mt from 18.5 million mt."

Similar articles

Major steel and raw material futures prices in China - March 28, 2024

28 Mar | Longs and Billet

Major steel and raw material futures prices in China - March 27, 2024

27 Mar | Longs and Billet

Some EU flat steel import quotas about to be exhausted near end of period

26 Mar | Steel News

Major steel and raw material futures prices in China - March 26, 2024

26 Mar | Longs and Billet

Major steel and raw material futures prices in China - March 25, 2024

25 Mar | Longs and Billet

Stocks of main finished steel products in China down 0.6 percent in mid-March

25 Mar | Steel News

Major steel and raw material futures prices in China – March 22, 2024 

22 Mar | Longs and Billet

Major steel and raw material futures prices in China – March 21, 2024 

21 Mar | Longs and Billet

Major steel and raw material futures prices in China – March 20, 2024 

20 Mar | Longs and Billet

Major steel and raw material futures prices in China – March 19, 2024 

19 Mar | Longs and Billet