In January this year, Turkey's steel exports decreased by 15.4 percent year on year to 1.2 million mt, while the value of these exports totaled $865 million, down 21.7 percent, both on year-on-year basis, according to the data released by the Turkish Steel Exporters' Association (CIB).
In January, Turkey's main steel export destination was the Middle East, which received 421,000 mt, down 18.6 percent year on year. The Middle East was followed by North America, the EU, Central and South America, and North Africa, which imported 203,000 mt, 164,000 mt, 159,000 mt and 114,000 mt of Turkish steel products respectively.
On the other hand, in the given month, Turkey's main exported steel product was rebar with total rebar exports amounting to 516,000 mt. Rebar was followed by steel pipe exports totaling 148,000 mt, steel profile exports reaching 109,000 mt, and hot rolled flat steel exports amounting to 106,000 mt.
CIB chairman Namık Ekinci said that 2015 started worse than expected and that the industry aims to compensate for its losses. He added that exporters expect positive improvements regarding all industry-related issues and the restoring of global and national economic stability. Mr. Ekinci said that economic balances keep changing because of the fluctuating currency rates and oil prices, further challenging the steel industry.