Steel Exports up by 7pct in Jan-Sept 2017

According to the data published by Turkish Steel Exporters’ Association (CIB=Çelik İhracatçıları Birliği), Turkish steel exports increased by 7 pct YoY to 13.1 mln tons in the first nine months of 2017. Export value increased by 23.4 pct to USD 8.2 bln. In Jan-Sept 2017, EU remains the top destination for Turkish steel exports. Steel exports to EU were 4 mln tons, a considerable 53 pct increase against the same period last year. Turkish steel exports to Middle East were 3 mln tons and that of North Africa were 1.1 mln tons.

Exports to North America were at 1.8 mln tons. Turkish steel exports to Central & South American region grew by 40 pct to 937,000 tons and exports to Far East countries amounted to 872,000 tons, up by 525 pct YoY, in the first nine months of 2017.

In Jan-Sept 2017, notable increase in Turkish steel exports to Spain, Singapore, Italy, and Canada was observed when compared to last year, but significant decline was seen in Turkish steel exports to Oman, Iraq, Egypt and USA.

Turkey’s most exported steel product, rebar, declined by 23 pct to 4.1 mln tons in Jan-Sept 2017. Hot rolled steel exports amounted to 1.9 mln tons followed by welded pipe and wire rod exports of 1.4 mln tons and 968,000 tons respectively. Section steel exports were 1 mln tons.

In September 2017, Turkish steel exports totaled 1 mln tons, down by 19pct YoY. In terms of value exports were amounted to USD 746 mln, increased by 4.16 pct YoY.

Commenting on steel export statistics, Namik Ekinci, Chairman of the Steel Exporters' Association said that during the first nine months of 2017, Turkish rebar exports dropped due to strong demand in domestic market.