According to the Turkey's Steel Exporters' Association, in September this year, Turkey's total steel product exports amounted to 1.6 million tonnes rising 11.9% compared to the same month of the previous year and down 5.3% MoM with a total revenue of USD 1.22 billion decreasing 3.8% from September 2011 and down 4.7% compared to the previous month.
The YoY decrease in steel exports value in September was due to the fall of commodity prices on the back of the financial contraction. The Middle East was Turkey's largest destination for steel exports in September this year, receiving 547,000 tonnes while it was followed by North Africa with 187,000 tonnes and the EU countries with 175,000 tonnes. The most exported steel product in terms of volume was rebar amounting to 763,000 tonnes followed by 218,000 tonnes of steel billet, 163,000 tonnes of steel pipe, 143,000 tonnes of section steel and 75,000 tonnes of wire rod in the month in question.
Meanwhile, in the first nine months of the current year Turkey's total steel product exports amounted to 15 million tonnes up 10.7% compared to the same period last year. The revenue generated by these exports in January to September this year totaled USD 11.8 billion increasing by 3.2% YoY.
In the first 9 months of the current year, the Middle East was Turkey's largest destination for steel exports, receiving 6.2 million tonnes. In the given period, Turkey's steel product exports to the EU amounted to 1.6 million tonnes while North Africa imported 1.5 million tonnes of steel products from Turkey.
Compared to the same period last year, the largest steel export increases in January to September this year were recorded in exports to non EU European countries, North America, western Africa, the Middle East and Australia and Oceania. In the first 9 months exports of rebar which ranks first among the country's exported steel products in terms of volume, amounted to 6.7 million tonnes while Turkey exported 2.35 million tonnes of steel billet, 1.35 million tonnes of steel pipe, 1.31 million tonnes of steel section and 836,000 tonnes of wire rod in the period in question.
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