In May this year, Turkey's total steel product exports amounted to 1.68 million metric tons, rising 1.2 percent month on month and up by just 0.1 percent compared to the same month of the previous year, with a total revenue of $1.28 billion, rising 2.4 percent compared to the previous month, according to the Turkey's Steel Exporters' Association (CIB).
The Middle East was Turkey's largest destination for steel exports in May this year, receiving 800,000 metric tons, followed by Central and South America and EU countries with 176,000 mt and 158,000 mt respectively. The most exported steel product in the given month in terms of volume was rebar with 814,000 mt, followed by 184,000 mt of steel billet, 173,000 mt of steel section, 134,000 mt of steel pipe, and 95,000 mt of hot rolled flat steel.
Meanwhile, in the first five months of the current year Turkey's total steel product exports amounted to 8.5 million metric tons, up 4.25 percent compared to the same period last year. The revenue generated by these exports in January-May this year totaled $6.36 billion, decreasing by 3.4 percent year on year. The CIB noted that the decrease in steel export value was due to the general falling prices of commodities in international trade.
In the first five months of the current year, the Middle East was Turkey's largest destination for steel exports, receiving 3.5 million metric tons. In the given period, Turkey's steel product exports to the EU amounted to 1.3 million mt, while North Africa imported 886,000 mt of steel products from Turkey.
Compared to the same period last year, the largest increases in Turkey's steel exports in January-May this year were recorded in volumes to EU countries, the Middle East and Asia. In the first five months, exports of rebar, which ranks first among the country's exported steel products in terms of volume, amounted to 3.8 million mt, while Turkey exported 967,000 mt of steel billet, 736,000 mt of steel section, 721,000 mt of steel pipe and 500,000 mt of wire rod in the period in question.