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Turkey again a net exporter as imports slump, exports rise

Global Steel & Raw Materials Feature

April 20, 2017 - By Cenk Can

Turkey became a net steel exporter again in the first two months of the year, as imports dropped by a sharp 23.6% year-on-year to 2.55 million metric tons while exports grew 13.5% to 3.2 million mt, according to the latest Turkish Steel Producers’ Association (TCUD) data.

Revenue generated by steel exports also increased significantly, by 26.1% to $2 billion, due to higher export prices, the association said.

In February alone, Turkish steel exports rose 14.3% to 1.72 million mt, while imports slumped 39.7% on-year to 1.12 million mt.

Turkey's imports of semi-finished products declined sharply, by 61.2% year-on-year, to 322,000 mt that month, while Turkey's semi-finished exports rose significantly on-year, by 248% to 81,700 mt.

Analysis continues below...

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Turkey's imports of flat rolled products fell 20% in February to 617,500 mt, while long product imports declined by 30% to 107,000 mt, the data showed.

Turkey's finished long product exports, however, increased 4.4% on-year in February to 1.02 million mt, while flat rolled exports rose sharply by 64% on-year to 322,500 mt.

Turkey’s steel export/import ratio in February thus rose to 131:100, from 86:100 in the same month of the previous year, according to TCUD data.

In January-February, Turkey's finished long product exports increased 6.2% on-year to 1.95 million mt, while flat rolled exports rose sharply by 39.5% on-year to 524,000 mt.

Turkey's imports of semi-finished products declined by 32.1% on-year to 875,800 mt in the two-month period, while its semi-finished exports rose significantly on-year by 296.4% to 126,700 mt.

Turkey’s steel export/import ratio in January-February, thus rose to 118:100, from 83:100 in the same period of the previous year, TCUD said.

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