In May this year, Turkey's steel exports decreased by 29 percent year on year to 1.1 million mt, while the value of these exports totaled $801 million, down 37 percent on year-on-year basis, according to the data released by the Turkish Steel Exporters' Association (CIB).
In the first five months of this year, Turkey's steel exports declined by 11.9 percent to 6.9 million mt, while the value of these exports totaled $4.5billion, down 23.7 percent, both on year-on-year basis. In the given period, Turkey's main steel export destination was the Middle East.The Middle East was followed by North America, the EU and North Africa.
In the first five months, Turkey's main exported steel product was rebar which was followed by steel pipes, steel profiles and hot rolled flat steel. Steel nail exports increased by 28.7 percent to 18,700 mt, with a value of $18.2 million, up 21.4 percent, both year on year.
CIB chairman Namık Ekinci said that, for steel exports to recover, the Turkish steel industry needs value-added production, which will also increase the competitiveness of the industry.