Turkey’s August merchant bar exports up on last year

Monday, 07 September 2009 15:36:36 (GMT+3)   |  
       

In this week's Turkish merchant bar market analysis, we will take a look at the year-on-year changes seen in January-August and in August this year in Turkey's merchant bar exports, based on the data lately published by the Istanbul Mineral and Metals Exporters' Association (IMMIB). In short, Turkey's export markets for merchant bar in the periods in question are seen to be characterized by change and variation.

In general, the first eight months of 2009 were quite difficult for the Turkish iron and steel market players. In this period it was observed that Turkish merchant bar producers did not hesitate to export small tonnages and tried to vary their export markets (in the past Turkish producers had been unwilling to sell small tonnages). Thus, last year's leading export markets for Turkish merchant bar have been replaced by new destinations.

Whereas Turkish merchant bar exports amounted to 1,127,000 mt in January-August 2008, the tonnage decreased to 892,000 mt in the same period of 2009.

In January-August 2008, Turkey's most important merchant bar export markets were (figures have been rounded to the nearest thousand):

Country

Amount

Romania

105,000 mt

Morocco

95,000 mt

UAE

89,000 mt

Saudi Arabia

43,000 mt

Iraq

41,000 mt

However, in January-August 2009 Turkey's most important merchant bar export markets were (rounded to the nearest thousand):

Country

Amount

Iraq

139,000 mt

Morocco

66,000 mt

Saudi Arabia

63,000 mt

Syria

52,000 mt

Algeria

48,000 mt

A different picture is seen if we look at the figures for August. While Turkish merchant bar exports amounted to approximately 79,000 mt in August last year, the figure increased to 102,000 mt in August this year.

In August 2008, Turkey's most important merchant bar export markets were (rounded to the nearest thousand):

Country

Amount

Saudi Arabia

5,000 mt

UAE

5,000 mt

Romania

3,000 mt

Israel

3,000 mt

Iraq

2,000 mt

However, in August 2009 Turkey's most important merchant bar export markets were (rounded to the nearest thousand):

Country

Amount

Iraq

16,000 mt

Saudi Arabia

10,000 mt

Israel

7,000 mt

Lebanon

5,000 mt

The most important changes in the destination markets for Turkey's merchant bar exports in the periods in question are observed to have taken place in relation to Romania and Iraq. It can be said that the Iraqi market in particular has been a lifesaver for Turkish producers and exporters. Meanwhile, the global financial crisis seems to have had a negative effect on the amount of Turkish merchant bar exported to European destinations.

Finally, it may be noted that containerized trading has had a very important share in Turkey's merchant bar exports this year.


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