The Turkish Steel Exporters' Association (CIB) has stated that in July this year Turkey’s steel exports showed a downward trend. In the January-July period of the current year, Turkey's steel exports decreased by 0.2 percent year on year to 9.4 million mt, while the value of these exports totaled $5.1 billion, down 17.6 percent on year-on-year basis, according to the data released by the Turkish Steel Exporters' Association (CIB).
In the January-July period, Turkey's main steel export destination was the Middle East, which received 3.3 million mt of steel products from Turkey. The Middle East was followed by the EU and North Africa, which imported 1.8 million mt and 1.4 million mt of Turkish steel products respectively. In the given period, Egypt, Israel and the Netherlands recorded the highest year-on-year increases in steel product imports from Turkey. In the first seven months, Turkey’s steel exports to Egypt rose 77 percent year on year to 884,000 mt.
Meanwhile, in the January-July period this year, Turkey's main exported steel product was rebar with total exports amounting to 4.3 million mt. Rebar was followed by welded pipe exports totaling one million mt, hot rolled flat steel exports amounting to 982,000 mt, and steel section exports reaching 842,000 mt. In the given period, wire rod exports amounted to 557,000 mt, up 102,000 mt compared to the same period of 2015.
In July alone, Turkey's steel exports decreased by 18.2 percent year on year to 1.1 million mt, while the value of these exports totaled $607 million, down 24 percent compared to the same month of the previous year.