Turkey's steel exports increased by 35.2 percent in the first 10 months of this year, reaching $12.4 billion.

According to a statement released by the Steel Exporters' Association (ÇİB), Turkey's steel exports surged by 35.2 percent in January-October 2018 compared to the same period of the previous year, amounting to $12.4 billion. In this period, steel exports rose by 15.5 percent to 16.8 million tons in terms of quantity.

In the said period, the average unit price of steel in Turkey increased by 17 percent to $740 per ton. The average unit price per ton in October rose by 0.4 percent and reached $689 compared to the same month of 2017.

ÇİB Chairman Adnan Aslan pointed out that Turkey's steel exports had continued to increase steadily since the beginning of the year, highlighting that in October steel exports achieved an increase of 46.9 percent in value and 46.3 percent in quantity.

"The sector reached $1.49 billion and 2.2 million tons in exports in October. In the January-October period, steel exports amounted to 16.8 million tons in quantity with an increase of 15.5 percent and to $12.4 billion in value with an increase of 35.2 percent compared to the same period of the previous year," Aslan said, informing that in this period, the highest increase in exports was experienced in flat construction steel and wire rod, respectively, while the largest decrease was in slab, alloy wire and alloy wire rod.

Aslan said they will organize a visit to Colombia in the coming days with the intent of increasing exports to Latin America.

Stressing that they will meet with the representatives of the important companies of the region within the scope of this visit, Aslan said the talks could pave the way for new collaborations.

Noting that they exported 1.1 million tons of steel to Latin America region in 10 months with an increase of 8.4 percent, Aslan said in this period, Chile led the way in Turkey's exports with 167,000 tons, followed by Panama with 134,000 tons and Colombia with 117,000 tons, adding that Turkey's most exported products to the region were construction steel with 508,000 tons, steel shape with 221,000 tons and wire rod with 105,000 tons.