In January, Turkey's steel product exports continued their declining trend, both in volume and revenue, which started on November 2009, registering the lowest level since November 2008 when the global financial crisis hit the world steel markets.
According to the preliminary statistics provided by the Istanbul Mineral and Metals Exporters' Association (IMMIB), in January this year Turkey's total steel product exports amounted to 1.22 million metric tons, decreasing by 25.75 percent year on year. Meanwhile, the revenue generated by these exports totaled $681.16 million, down by 29.67 percent compared to January last year.
As compared to December 2009, Turkey's steel product export volume in January declined by 5.81 percent, while the revenue from steel product exports decreased by 19.6 percent.
In January, steel bar exports (including rebar) accounted for 25.86 percent of the country's total steel product exports, while section exports constituted 25.08 percent, exports of steel billet made up 20.42 percent, exports of pipes and fittings constituted 8.71 percent, wire rod exports accounted for 5.6 percent and flat steel exports for 4.07 percent.
Turkey's top ten steel export destinations in January 2010 are as follows:
Country | Volume (mt) |
UAE | 89,245 |
Iraq | 76,608 |
Morocco | 73,926 |
Egypt | 66,124 |
Saudi Arabia | 65,729 |
Singapore | 50,491 |
USA | 49,833 |
Libya | 49,183 |
Israel | 32,287 |
Algeria | 31,822 |
