Turkey’s steel exports exceed $1 billion for first time in five months in March

In March, Turkey's steel product exports witnessed an increase of 25 percent month on month in volume and a rise of 28.68 percent in revenue, exceeding $1 billion for the first time in five months.

According to the preliminary statistics provided by the Istanbul Mineral and Metals Exporters' Association (IMMIB), in March this year Turkey's total steel product exports amounted to 1.56 million metric tons, decreasing by 6.74 percent year on year. Meanwhile, the revenue generated by these exports totaled $1.04 billion, up by 11.54 percent compared to March last year.

In March, steel bar exports (including rebar) accounted for 36.33 percent of the country's total steel product exports, while section exports constituted 8.9 percent, exports of steel billet made up 16.83 percent, slab exports accounted for 9.61 percent, exports of pipes and fittings constituted 9.73 percent, wire rod exports accounted for 4.81 percent and flat steel exports for 6.58 percent.

On the other hand, in the first quarter of this year, the country's total steel product exports reached 3.86 million metric tons, while the revenue generated by these exports amounted to $2.52 billion, decreasing by 22.53 percent and down 12.84 percent respectively, both compared to the corresponding period of 2009.

Turkey's top ten steel export destinations in March 2010 are as follows: