RISING AT A SOLID PACE

Turkey's steel exports recently peaked in 2012, reaching a high of 18.4 million metric tons. By 2016, Turkey's steel exports had fallen 18 percent from the 2012 high to 15 million metric tons. In YTD 2017, the volume of Turkey's steel exports increased 8 percent to 12 million metric tons from 11.1 million metric tons in YTD 2016. By contrast, the value of Turkey's YTD 2017 steel exports increased by 30 percent to $6.5 billion from $5 billion in YTD 2016.

Turkey is the world's ninth-largest steel exporter. In year to date 2017 (through September), further referred to as YTD 2017, Turkey exported 12 million metric tons of steel, an 8 percent increase.

According to the data published by Turkish Steel Exporters' Association, Turkish steel exports increased by 1.3 pct YoY to 3.2 mln tons in the first two months of 2018. Export value increased by 27.5 pct to USD 2.3 bln.

In Jan 2018, EU remained the top destination for Turkish steel exports. Steel exports to EU were 1.3 mln tons, a significant 62 pct increase against the same period last year.

Turkish steel exports to Middle East were 714,000 tons. Exports to North American countries were at 217,300 tons. Turkish steel exports to Central & South American region were 203,000 tons in the first two months of 2018.

Notable increase in Turkish steel exports to Israel, Netherlands, Belgium, Germany and Italy was observed when compared to last year. Turkish flat rolled suppliers were dominant to export their products in Belgium and Italy. Turkish wire rod exports increased in Israel, Germany and Netherlands in Jan-Feb 2018. Significant decline was seen in Turkish steel exports to USA and Morocco. Steel exports to USA declined by 60 pct YoY.

In terms of exports statistics by products, Turkish rebar exports declined by 19.32 pct to 1 mln tons, in Jan-Feb 2018. Hot rolled steel exports amounted to 539,000 tons followed by welded pipe and wire rod exports of 312,000 tons and 264,000 tons respectively. Section steel exports were 247,000 tons.

In February 2018, steel exports were totaled 1.6 mln tons, down by 3.4 pct as compared to Feb 2017. Steel exports in term of value increased by 24 pct to USD 1.1 bln.

Reflecting on export statistics of the first two months of 2018, Turkish Steel Exporters' Association Chairman, Namik Ekinci said that Turkish steel exports continue to increase in the first two months of 2018 despite drop in exports to USA. The upward trend in steel exports is largely due to increase in sales to European countries, he added.

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