Turkey's steel exports down 7.3 percent in H1

In the first six months of the current year, Turkey's steel exports totaled 9.2 million mt, down 7.3 percent year on year, while the value of these exports decreased by 5.3 percent year on year to $7.02 billion, according to the data released by the Turkish Steel Exporters' Association (CIB). Meanwhile, in June this year Turkey's steel exports amounted to 1.3 million mt, down 8.8 percent year on year, and the value of these exports decreased by 3.7 percent year on year to $1.07 billion.
 
In the first half of this year, Turkey's main steel export destination was the Middle East, with 3.34 million mt of steel imports from Turkey, ahead of the EU countries and North Africa, which imported 1.74 million mt and 1.28 million mt of steel, respectively. On country basis, in the given period Turkey's main steel export destinations were Iraq, the US and the UAE, with 1.37 million mt, 807,000 mt and 697,000 mt, respectively. The largest year-on-year increases in Turkish steel exports were recorded to the US, the UK, Israel, Morocco and the Netherlands, while the largest decreases were seen in export volumes to Saudi Arabia, Italy, Iraq, Oman and Libya.
 
On the other hand, in the first six months this year Turkey's main exported steel product was rebar with total rebar exports amounting to 3.96 million mt. Rebar was followed by steel profile exports totaling 964,000 mt, steel pipe exports totaling 961,000 mt, hot rolled flat steel exports amounting to 882,000 mt and 536,000 mt of wire rod product exports.
 
Turkish Steel Exporters' Association chairman Namık Ekinci commented, "Despite the decrease in Turkey's steel exports in the first half of this year, we believe that this negative situation will change in the second half and by the end of this year the Turkish steel industry will have achieved its goal of a steel export volume of 18.5 million mt. On the other hand, we hope that the problems occurring in Iraq will be resolved in the coming period and will not continue for years. Now we are searching for alternative ways to compensate for the 44 percent decline in the steel export volume to the country in June this year."