In October, Turkey's wire rod exports surged in volume and in revenue for the sixth consecutive month, reaching their highest monthly levels recorded this year.
According to the statistics released by the Istanbul Mineral and Metals Exporters' Association (IMMIB), in October Turkey's total wire rod exports amounted to 168,726 metric tons, increasing by 95.44 percent year on year and up 35.51 percent over September this year. Meanwhile, the revenue generated by these exports totaled $84.2 million, rising by 29.18 percent compared to the same month of the previous year and up 39 percent month on month.
In October, the average export price of Turkish wire rod amounted to $499/mt, up $12.55/mt or 2.58 percent from September levels, but indicating a decrease of $256/mt or 33.9 percent from $755/mt in October 2008.
On the other hand, in the January-October period of the current year Turkey's wire rod exports surged 23.13 percent year on year to 962,450 mt, totaling a value of $447.54 million, down 35.05 percent compared to the corresponding period of the previous year. According to the Turkish Iron and Steel Exporters' Association, the country's wire rod exports are expected to reach 1.2 million metric tons this year.
Turkey's top ten wire rod export destinations in October this year:
Country | Quantity (mt) |
31,620 | |
20,383 | |
13,225 | |
13,190 | |
9,000 | |
9,875 | |
8,000 | |
6,408 | |
6,300 | |
5,150 |
