In the first two months of the current year, Turkey's steel exports totaled 3.07 million mt, down four percent year on year, while the value of these exports decreased by 2.7 percent year on year to $2.3 billion, according to the data released by Turkish Steel Exporters' Association (CIB). Meanwhile, in February this year Turkey's steel exports declined by 0.9 percent to 1.6 million mt and the value of these exports decreased by 2.2 percent to $1.1 billion, both year on year.
In the first two months this year, Turkey's main steel export destination was Iraq, ahead of the US and Morocco. Meanwhile, Turkey's steel exports to Morocco increased by 371 percent year on year in the given period.
On the other hand, in the given period Turkey's main exported steel product was rebar with total rebar exports amounting to 1.37 million mt, up 10.2 percent year on year. Rebar was followed by steel section exports totaling 305,000 mt, steel pipe exports amounting to 303,000 mt and 248,000 mt of hot rolled flat steel product exports.
Turkish Steel Exporters' Association chairman Namik Ekinci commented, "In the first two months of this year, we saw declines in steel exports in value and volume. We are still working to get rid of the problems causing these declines. Last month, in its countervailing duty investigation on the import of iron and non-alloyed wire rod and bar, the US Department of Commerce made a preliminary judgment that we did not receive any government subsidies while exporting these products. Precautions are taken to anticipate possible risks. We believe that despite all the problems Turkey's steel exports will be higher than in the previous year."
