The Turkish Steel Exporters' Association (CIB) has stated that, in line with the contraction in world trade, the decline in steel prices and instability in key markets such as the Middle East, Turkey’s steel exports continue to decrease. The aggressive export policy of the Chinese steel industry contributes to the increasing loss of Turkey in key markets with each passing month.
In October this year, Turkey's steel exports decreased by 2.3 percent year on year to 1.36 million mt, while the value of these exports totaled $772 million, down 25.9 percent on year-on-year basis, according to the data released by the Turkish Steel Exporters' Association (CIB).
In the January-October period of this year, Turkey's steel exports declined by 7.6 percent to 13.5 million mt, while the value of these exports totaled $8.5 billion, down 24 percent, both on year-on-year basis. In the given period, Turkey's main steel export destination was the Middle East, which received 4.7 million mt. The Middle East was followed by the EU, North America and North Africa, which imported 2.4 million mt, 2.1 million mt and 1.7 million mt of Turkish steel products respectively. In the first 10 months, Egypt, the United Arab Emirates (UAE), Syria, Djibouti and Spain recorded the highest increases in steel product imports from Turkey.
The CIB stated that, with demand for value-added steel products increasing in international markets recently, Turkey’s alloy steel bar and section exports increased by 30 percent year on year to 192,000 mt in the January-October period this year. Alloy steel bars and sections are used in many industries such as machinery and manufacturing, and are especially in demand by European countries.