CIB: Turkey becomes largest steel import source for Serbia

Thursday, 08 December 2022 12:25:23 (GMT+3)   |   Istanbul
       

The Turkish Steel Exporters’ Association (CIB) has organized a trade delegation to Serbia as part of its strategies to expand to new markets and seize current opportunities. With the participation of 19 Turkish steel exporting companies, bilateral meetings have been held to strengthen their presence in the country and increase their sales volume.

CIB chairman Adnan Aslan pointed out that, even though Serbia is not a top steel export destination for Turkey, the Russia-Ukraine war increased the demand for Turkish steel in the region. “Serbia imported about 1.2 million mt steel last year. Bosnia and Herzegovina was the top import source with 183,000 mt and it was followed by Turkey with 167,000 mt. Meanwhile in the first seven months of 2022, Serbia’s steel imports from Turkey increased by 88 percent to 154,000 mt, with Turkey becoming the leading source of steel imports. In 2021 Turkey’s steel market share in Serbia was 13.9 percent, while it increased to 23 percent in the first seven months this year,” said Mr. Aslan.

Serbia ranked 32nd among Turkey’s steel export destinations in the first 10 months of 2021, while it is ranked 21st in the same period this year. In the first 10 months this year, Turkey’s steel exports to Serbia amounted to 235,000 mt, up 53 percent, while the value of these exports increased by 61 percent to $271 million. Meanwhile, Turkey’s top steel products exported to Serbia are coated steel, merchant bar, welded pipe, hot rolled steel and construction steel.


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