In the January-April period of the current year, Turkey's steel exports decreased by 6.3 percent year on year to 6.4 million mt, while the value of these exports totaled $4.7 billion, up 19.3 percent on year-on-year basis, according to the data released by the Turkish Steel Exporters' Association (CIB). In the given period, steel exports to the US, one of the most important export markets for the Turkish steel industry, declined by 48.3 percent year on year to 455,000 mt.
Meanwhile, in the given period, Turkey's main exported steel product was rebar with total exports amounting to two million mt, falling by 14.7 percent compared to the same period of the previous year. Rebar was followed by hot rolled flat steel exports amounting to one million mt, welded pipe exports totaling 617,000 mt, steel section exports amounting to 574,000 mt and wire rod exports reaching 561,000 mt.
In April alone, Turkey's steel exports went down by 9.5 percent year on year to 1.5 million mt, while the value of these exports totaled $1.1 billion, up 14.9 percent compared to the same month of the previous year.
“The most important reason for the decrease in our steel exports is the sharp decline in steel exports to the US due to the Section 232 tariffs. In April this year, Turkey’s steel exports to the US fell by 68.1 percent year on year to 83,000 mt. The Turkish Steel Exporters' Association is taking all the necessary steps in order to be exempted from the Section 232 tariffs of the US. It is crucial for the Turkish steel industry to be exempted from the steel tariffs to continue mutual trade with the US,” commented CIB chairman Adnan Aslan.