The Turkish Steel Exporters' Association (CIB) has stated that in the January-July period of the current year, Turkey's steel exports increased by 15.03 percent year on year to 10.9 million mt, while the value of these exports totaled $6.6 billion, up 30.8 percent on year-on-year basis, according to the data released by the Turkish Steel Exporters' Association (CIB).
In the January-July period, Turkey's main steel export destination was the EU, which received 3.3 million mt of steel products from Turkey, increasing by 79 percent year on year. The EU was followed by the Middle East, North America and the Far East, which imported 2.4 million mt, 1.6 million mt and 799,000 mt of Turkish steel products respectively. In the given period, Italy, Spain, Singapore, Canada and the UK recorded the highest year-on-year increases in steel product imports from Turkey.
Meanwhile, in the given period, Turkey's main exported steel product was rebar with total exports amounting to 3.5 million mt, down 17.2 percent from the same period of the previous year. Rebar was followed by hot rolled flat steel exports totaling 1.6 million mt, welded pipe exports amounting to 1.1 million mt, wire rod exports reaching 854,000 mt and steel sections totaling 836,000 mt.
In July alone, Turkey's steel exports rose by 12 percent year on year to 1.2 million mt, while the value of these exports totaled $800 million, increasing by 32.4 percent compared to the same period of 2016.
CIB chairman Namık Ekinci stated that, despite the problems experienced in foreign markets, the Turkish steel industry has performed well in exports during the first seven months of this year. According to Mr. Ekinci, in the January-July period the United Arab Emirates, Egypt, Oman, Kuwait and Saudi Arabia were the five countries in which Turkish steel exports showed the greatest decline in terms of volume, because these countries have started building their own steel industries and accordingly they have changed their stance in order to protect their domestic industries.