In the January-August period of the current year, Turkey's steel exports increased by 5.8 percent year on year to 12.7 million mt, while the value of these exports totaled $9.6 billion, up 28.5 percent on year-on-year basis, according to the data released by the Turkish Steel Exporters' Association (CIB).
In the first eight months of this year, export volumes of hot rolled flat steel products showed the highest year-on-year increases, followed by steel sections and wire rod, while the biggest decreases were seen in export volumes of billet, rebar and slab respectively.
In August, Turkey's steel exports increased by 36.4 percent year on year to 1.6 million mt, while the value of these exports totaled $1.2 billion, up 43 percent on year-on-year basis.
CIB Chairman Adnan Aslan said that Turkey’s billet exports to Algeria, Indonesia and Saudi Arabia saw significant declines, adding that the decrease both in volume and value of rebar exports which has been the key export product of Turkish steel industry is due to trade investigations against Turkey. Apart from the US and Egypt, United Arab Emirates is the leading country to which Turkey’s billet exports decreased significantly as the country increased customs duties to protect its domestic producers. He concluded that most significant decreases in Turkey’s slab exports were seen in exports to the UK and Italy.