According to the data provided by the Turkish Statistical Institute (TUIK), in the first half of this year Turkey's wire rod exports rose 34.54 percent year on year, reaching 637,800 metric tons. The value of these exports amounted to $355.9 million, climbing by 72.88 percent as compared to the corresponding period of 2009.
Thus, in the January-June period, the average export price for Turkey's wire rod supplies stood at $558/mt FOB, increasing by 28.49 percent or $124/mt higher as compared to the first six months of 2009.
In the first six months of this year, the US was Turkey's number one wire rod export destination, with exports reaching 122,961 metric tons, compared to 2,270 metric tons in the first half of 2009. According to US International Trade Commission (US ITC) data, in the first half of this year, Turkey was the US' second largest wire rod import source, following Canada, supplying 18 percent of total US wire rod imports, while Canada's total share of the US wire rod import market reached 45.42 percent. In the January-June period of this year, US wire rod imports grew by 2.7 times to 670,414 metric tons.
In the first half of this year, Turkey's top ten wire rod export destinations were as follows:
Country |
Volume (mt) |
USA |
122,961 |
Singapore |
49,619 |
Egypt |
42,889 |
Italy |
42,386 |
Brazil |
37,838 |
Spain |
35,783 |
Libya |
32,029 |
UAE |
28,232 |
Saudi Arabia |
20,270 |
Taiwan |
20,254 |