Turkish steel exports weaken in February, CIB says

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The value of February steel exports was $1.24 billion, down by 8.46% year-on-year.

The fall came on the slowdown in the country’s export markets, the CIB said on Monday March 4.

In February, the Middle East was the biggest buyer of Turkish material, importing 592,000 tonnes.

Europe ranked second with 349,000 tonnes, and North Africa third with 200,000 tonnes.

Turkey’s rebar exports totalled 735,000 tonnes in February, HRC exports were 206,000 tonnes, followed by billet with 163,000 tonnes, pipe with 157,000 tonnes and wire rod with 131,000 tonnes.

In the first two months of 2013, the value of Turkish steel exports totalled $2.4 billion, down by 6.78% year-on-year.

However, export volumes from the country totalled 3.24 million tonnes, which is 0.26% higher than in the corresponding period of 2012.

The decline in the total value of exported steel was due to falling commodity prices, CIB said.

Compared with the previous year, the highest growth in steel imports from Turkey was in EU countries, CIB said.