According to the statistics provided by the Istanbul Mineral and Metals Exporters' Association (IMMIB), in February this year Turkey's total hot rolled flat steel exports amounted to 21,752 metric tons, decreasing by 79.07 percent year on year and down 27.24 percent month on month. Meanwhile, the revenue generated by these exports totaled $13.29 million, declining by 67.34 percent compared to February 2009 and down 31.4 percent month on month.
On the other hand, in the given month, the country's cold rolled flat steel exports stood at 12,583 metric tons, down 78.56 percent year on year, but significantly higher than previous month by 215 percent, while the total revenue of these exports amounted to $8.81 million, down 72.61 percent as compared to February 2009 and up 205 percent month on month.
As Turkey is mainly focused on long steel production, the country's domestic flat steel output does not meet internal demand. Flat steel imports account for approximately 70 percent of total domestic flat steel consumption. Thus, Turkish flat steel producers may prefer to switch to local sales, based on domestic and overseas price levels.