Turkey’s rebar exports slump by 50.2 percent in June from May levels

In June this year, Turkey's rebar exports amounted to 347,991 metric tons, down 50.2 percent compared to May and increasing by 0.3 percent year on year, according to the preliminary data provided by the Turkish Statistical Institute (TUIK). Meanwhile, the revenue generated by these exports totaled $163.68 million, increasing by 51.42 percent compared to May and up 15.76 percent year on year.

The main reason for the decline in Turkey’s rebar exports in June was thatTurkish rebar exports from to Middle Eastern countries such as Yemen, Israel and Lebanon and to Latin American countries such as Chile and Panama were higher in May. Also, in May, Turkish exporters had increased their shipments to Germany, Belgium and the Netherlands as they were trying to use up the EU quota for others countries. Meanwhile, following their exports in May, Turkish mills did not make exports to Hong Kong in June. 

Meanwhile, in the first half of this year, Turkey's rebar exports amounted to 2.70 million metric tons, up 1.26 percent year on year, while the revenue generated by these exports totaled $1.28 billion, falling by 13.25 percent compared to same period of 2018.

In the given period, Turkey's largest rebar export destination was Yemen which received 501,490 metric tons, up 23.34 percent year on year. Yemen was followed by Israel with 383,323 metric tons and Singapore with 187,596 metric tons.
 
Turkey's top 10 rebar export destinations in the January-June period 2019:

Turkey's main rebar export destinations on country basis in January-June period of this year are presented below: