Turkish rebar exports rise to 3-year high

Exports of Turkish reinforcing bars increased 85% year on year in October to 754,447 tonnes, the highest monthly tonnage since February 2015, according to the Turkish Statistical Institute (TUIK). Their average cost was USD 514.4 per tonne against USD 517.6 per tonne in October 2017.

The huge jump came as Hong Kong bought 201,724 tons against zero last year. Singapore also bought 83.617 tons against zero last year and Myanmar 22 345 tons against zero.
However, shipments to Canada more than halved to 27,616 tonnes, while exports to Germany fell 45% year on year to 23,500 tonnes.

In total, Southeast Asia accounted for 326,565 tonnes of rebar exports in October versus 3,900 tonnes shipped to Malaysia in October 2017. This clearly shows how important it is for the region to exist for Turkish exporters in the face of trade barriers in the traditional mainstream markets of the US and Egypt, as well as self-sufficiency in the United Arab Emirates. The current concern is that with Chinese steel prices in recent weeks, Turkish mills will not be able to rely on Southeast Asia to offset sluggish demand elsewhere.

At the same time, the export of Turkish semi-finished products increased by 150% in October to 140,497 tons. Sri Lanka and Morocco took 55 683 tons and 25 184 thousand. Accordingly, this category.

Rebar exports in the nine months to October increased by 10% compared to the same period last year and amounted to 4.87 million tons, while Yemen and Israel - 696,765 tons and 581,769 tons, respectively. Canada was third with 307,802 tonnes.

The ten-month export of semi-finished products fell from -10% to 610.103 tons, while the HS code 720711 amounted to 345.505 tons.