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Turkey: Steel exports to EU increase by 86 pct during Jan-Feb 2017 YoY

According to the data published by Turkish Steel Exporters’ Association (CIB=Çelik İhracatçıları Birliği), Turkish steel exports increased by 12.6 pct YoY to 3.2 mln tons in the first two months of 2017 YoY. The total volume exported is also the highest when compared to same period in the last 4 years. Export value increased by 31.3 pct to USD 1.8 bln. In the same period, wire rod and billet exports recorded highest increase but rebar and section steel exports went down.

In Jan-Feb 2017, EU was the top destination for Turkish steel exports. Steel exports to EU were 848,000 tons, a massive 86 pct increase against the same months last year. Turkish steel exports to Middle East amounted to 755,000 tons. Exports to North America and North Africa were 526,000 tons and 302,000 tons respectively. Turkish steel exports volume to HongKong, USA, Spain, Italy & Yemen increase on YoY basis.

Turkey’s most exported steel product was rebar in Jan-Feb 2017. Turkish rebar exporters sold 1.35 mln tons rebar in the given months. Hot rolled steel exports were amounted to 337,000 tons followed by welded pipe and wire rod imports of 298,000 tons and 290,000 tons respectively. Section steel exports were 233,000 tons.

Namik Ekinci, Chairman of the Steel Exporters’ Association said that, “Turkey has become net steel exporter since December 2016 which is the most positive development in our sector.” He further added that exports to Singapore, Portugal and the USA played an important role in export growth in the first two months of 2017. Although rebar and section steel exports went down mainly due to slowdown in Middle East economies due to low oil revenue.

Meanwhile, Anadolu Agency reported that according to data from the Exporters’ Assembly of Turkey (TIM) Wednesday, Turkey’s exports increased by 5.1 percent year-on-year in February.

Exports were around USD11.3 billion last month and the country’s total exports over the last 12 months stood at over USD143.2 billion, up by 2.6 percent compared with the previous 12 months.

Speaking at a press conference in Ankara, TIM President Mehmet Buyukeksi said this year exporters had managed to increase the country’s exports by 5.1 percent.

The quantity of exports rose by 10.2 percent, Buyukeksi said.

The automotive sector — exports of which rose by 12.5 percent year-on-year in February — came out as the highest exporter in the month.

“We expect the increase in Turkey’s export to the United States will continue,” he said.

Also, Turkey’s exports to Malta and Singapore rose the most in the first two months of the year with 139 percent and 112 percent, respectively, Buyukeksi said.

Northern Turkey’s Sakarya province increased its exports the most, 167 percent, and ranked among top 10 exporting cities of the country, he added.
Source: Mesteel

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