In the January-March period of the current year, Turkey's steel exports decreased by 5.1 percent year on year to 4.9 million mt, while the value of these exports totaled $3.6 billion, up 21 percent on year-on-year basis, according to the data released by the Turkish Steel Exporters' Association (CIB). In the given period, steel exports to the US, one of the most important export markets for the Turkish steel industry, declined by 40 percent year on year to 371,000 mt.
Meanwhile, in the given quarter, Turkey's main exported steel product was rebar with total exports amounting to 1.6 million mt, falling by 15.7 percent compared to the same period of the previous year. Rebar was followed by hot rolled flat steel exports amounting to 778,000 mt, welded pipe exports totaling 473,000 mt, wire rod imports amounting to 422,000 mt and steel section exports reaching 417,000 mt.
In March alone, Turkey's steel exports went down by 15 percent year on year to 1.7 million mt, while the value of these exports totaled $1.3 billion, up 11 percent compared to the same month of the previous year.
“We are having a critical year in terms of the global steel industry. After the US implemented its Section 232 tariffs, other countries started to respond with counter measures. The Turkish steel industry now faces the risk of possible safeguard measures from the EU, which is also one of the key markets of our industry. Turkey should be excluded from the safeguard investigation of the EU because it has done its part in the Customs Union agreement up to now. In addition to this, because Turkey is a part of the Customs Union agreement, the EU and Turkey should act together against the threats coming from third countries,” commented CIB chairman Namik Ekinci.