The Turkish Steel Exporters' Association (CIB) has stated that in May this year Turkey’s steel exports to Egypt increased by 86 percent compared to the previous month, since Turkish steel producers succeeded in overcoming the problem caused by the new import regulations of the Egyptian government which require suppliers, including steel producers, to register with Egypt’s General Authority of Export and Import Control, enabling them to be inspected by the Egyptian authorities. In the January-May period of the current year, Turkey's steel exports fell by 0.7 percent year on year to 6.8 million mt, while the value of these exports totaled $3.6 billion, down 21.1 percent on year-on-year basis, according to the data released by the Turkish Steel Exporters' Association (CIB).
In the January-May period, Turkey's main steel export destination was the Middle East, which received 2.4 million mt of steel products from Turkey. The Middle East was followed by the EU and North Africa, which imported 1.2 million mt and 1.1 million mt of Turkish steel products respectively. In the given period, Egypt, Israel and Spain recorded the highest year-on-year increases in steel product imports from Turkey.
Meanwhile, in the January-May period this year, Turkey's main exported steel product was rebar with total exports amounting to 3.1 million mt. Rebar was followed by welded pipe exports totaling 785,000 mt, hot rolled flat steel exports amounting to 761,000 mt, and steel section exports reaching 630,000 mt.
In May alone, Turkey's steel exports increased by 11.5 percent year on year to 1.3 million mt, while the value of these exports totaled $757.2 million, down 4.2 percent compared to the same month of 2015.
“Egypt is a very important market for the steel industry. In the January-May period this year, our steel exports to Egypt increased by 113.2 percent to 762,800 mt, while the value of these exports amounted to $295.7 million, up 50.4 percent year on year. However, in April, Turkey’s steel exports to Egypt showed a decrease of 66 percent compared to March. This decrease was impacted by the new import regulations of Egypt which caused suppliers to face long registration procedures. As a result of the collective work carried out with the support and leadership of the CIB and other Turkish steel companies, some of the Turkish suppliers were able to adapt quickly to this practice, which can be described as a non-tariff barrier,” commented CIB chairman Namık Ekinci.