In the first eight months of the current year, Turkey's steel exports totaled 11.8 million mt, down 5.6 percent year on year, while the value of these exports decreased by 4.3 percent year on year to $9 billion, according to the data released by the Turkish Steel Exporters' Association (CIB). Meanwhile, in August this year Turkey's steel exports amounted to 1.25 million mt, up 5.2 percent year on year, and the value of these exports increased by 3.4 percent year on year to $959.3 million.
In the first eight months of this year, Turkey's main steel export destination was the Middle East, amounting to 4.15 million mt. The Middle East was followed by the EU countries, North America and North Africa, which imported 2.11 million mt, 1.5 million mt and 1.3 million mt of steel respectively. During the January-August period, Iraq, previously the number one export destination for Turkish steel, moved down to second place due to negative developments in the region. On country basis, in the given period Turkey's main steel export destinations were the US, Iraq and the UAE, with 1.23 million mt, 1.15 million mt and 929,000 mt, respectively. The largest year-on-year increases in Turkey's steel exports were recorded to the US, the UK, Israel, Morocco and Canada, while the largest decreases were seen in export volumes to Saudi Arabia, Italy, Iraq, Portugal and Libya.
On the other hand, in the first eight months this year Turkey's main exported steel product was rebar with total rebar exports amounting to 5.1 million mt. Rebar was followed by steel pipe exports totaling 1.26 million mt, steel profile exports totaling 1.22 million mt and hot rolled flat steel exports amounting to 1.12 million mt.
"The Turkish steel industry is having a difficult time amid the recent negative developments in Iraq and the antidumping duty and safeguard investigations in the US. Iraq was always our number one market for steel exports. However, Iraq has moved down to second place, with steel exports to the country decreasing 31 percent year on year to 1.15 million mt in volume and by 25.7 percent year on year to $948 million in value. Opening warehouses and removing the obstacles to use Iranian highways as an alternative route [to Iraq] will give an advantage to Turkish exporters," said Namik Ekinci, chairman of the Turkish Steel Exporters' Association.
