Turkey's steel exports reach annual target of 19M tons before year-end

Published 04.12.2018 00:00
Updated 04.12.2018 08:00

Turkey's steel exporters reached the year-end export target of 19 million tons in the first 11 months of 2018.

According to the statement released by the Steel Exporters Association (ÇİB), in the 11-month period, Turkey's quantity-based steel exports increased by 19.8 percent to 19.3 million tons and exceeded the year-end export target prior to December.

Meanwhile, in terms of value, Turkey achieved $14.1 billion in steel exports with an increase of 37.3 percent in the same period.

In November, steel exports climbed by 60.9 percent to 2.5 million tons in quantity and by 55.8 percent to $1.7 billion in value, compared to the same month of the previous year.

ÇİB Chairman Adnan Aslan stated that the sector, which struggled with many problems, especially protectionist measures, achieved success in exports despite all the difficulties encountered in the process.

Noting that they reached the year-end export target in 11 months with the increase in the products such as flat steel, wire rod, construction steel, profile and flat plate, Aslan stressed that they aim for a similar performance in 2019 as well.

Aslan said the average unit price per ton of steel in Turkey dropped by 3.1 percent to $680 in November compared to the same month of the previous year, while the average unit price per ton in 11 months surged by 14.6 percent to around $732 compared to the same period of 2017.

Stressing that Turkey will retain its power in the current markets, Aslan said they will move to Southeast Asia, West Africa and South America, where exports are not yet at the desired levels, with the intent of evaluating the opportunities available in these regions.

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