According to the preliminary statistics provided by the Istanbul Mineral and Metals Exporters' Association (IMMIB), in October this year Turkey's total steel product exports amounted to 1.5 million metric tons, increasing by 5.3 percent compared to September this year but down 5.6 percent year on year. Meanwhile, the revenue generated by these exports totaled $1.32 billion, increasing 3.7 percent compared to September this year and by 12.7 percent compared to October last year.
In October, rebar exports accounted for 43.5 percent of Turkey's total steel product exports, while billet exports constituted 9.5 percent, exports of steel section made up 10.6 percent, exports of flat steel constituted 10.9 percent, steel pipe and fitting part exports accounted for 10.3 percent and wire rod exports accounted for 7.5 percent.
On the other hand, in the first 10 months of the year, the country's total steel product exports reached 15.05 million metric tons, while the revenue generated by these exports amounted to $12.8 billion, increasing by 4.87 percent and 27.29 percent respectively, both compared to the corresponding period of 2010.
In the January-October period, Turkey's steel product exports to the UAE, its largest market for steel exports, amounted to 1.35 million metric tons, down 30.06 percent year on year, with a value of $906 million, 15.73 percent lower than in January-October 2010. Turkey's steel product exports to Iraq during the period came to 1.2 million metric tons, up 27.46 percent year on year, with a value of $1.04 billion - up 47.89 percent year on year. Exports to Italy, amounted to 1.09 million metric tons, increasing by 206.38 percent year on year, totaling a value of $840 million, up 232.47 percent year on year.
Turkey's top 10 steel export destinations in October 2011 are as follows:
Country | Volume (mt) |
157,768 | |
Singapore | 140,140 |
Egypt | 103,089 |
Saudi Arabia | 98,067 |
Israel | 81,952 |
US | 63,820 |
Lebanon | 61,513 |
59,970 | |
Romania | 40,023 |
Yemen | 48,122 |