Turkey significantly increases steel exports since the beginning of the year

Turkish steel exports rose 12.5% ​​year on year to 11.4 million tonnes in the first nine months of the year, the trade association said.

The Association of Turkish Steel Exporters (CIB) reported that the country earned $ 11 billion in January-September, up 34 percent from the same period last year.

In September, the country exported 2 million tons of steel, which is almost twice as much as in the same month last year.

Last month, Turkish steel exports rose to $ 1.4 billion, up 94.9% from September 2017.

Adnan Aslan, head of CIB, said that structural steel exports are the sector's main export product.

"Export of construction steel increased by 2.9 percent to 4.24 million tons, and its value also increased to $ 2.34 billion, which is 31 percent higher," Aslan said.

Turkish inflation rose to nearly 25% in September from a year earlier, official data showed on Wednesday, hitting its highest level in 15 years and focusing on whether the central bank can deliver another significant rate hike.

The Lira has lost nearly 40% of its value this year against the dollar, hit by worries over President Tayyip Erdogan's influence over the central bank and a rift with Washington.