Türkiye steel exports rise 2.9 percent year-on-year in July

ANKARA

Türkiye’s steel product exports rose 2.9 percent year-on-year in volume to 1.2 million tons and 4.4 percent in value to $827.3 million in July, according to data from the Turkish Steel Producers Association (TÇÜD).

In the January-July period, steel exports increased 2.4 percent from a year earlier to 9 million tons, while export revenues rose 1.6 percent to $6.1 billion.

Steel imports fell 19.7 percent year-on-year in volume to 1.5 million tons and 17.6 percent in value to $1.1 billion in July.

During the first seven months of the year, imports declined 3 percent in volume to 10.7 million tons and 4.9 percent in value to $7.4 billion compared with the same period of last year.

The ratio of exports to imports rose to 82.1 percent in the January-July period from 76.9 percent a year earlier.

Türkiye’s crude steel production increased 7 percent year-on-year to 3.4 million tons in July. In the first seven months of the year, crude steel output rose 7.9 percent to 23.2 million tons.

TÇÜD Secretary-General Veysel Yayan said an 85 percent increase in steel exports to South America, which reached 762,000 tons, had a positive impact on overall steel product exports.

“All these developments do not yet fully reflect the negative consequences of the quota system, which is estimated to cause a contraction of approximately 4 million tons in our exports to the European Union. The decline in our exports to the EU is expected to accelerate in the coming months,” Yayan said.

“On the other hand, the presence of Chinese-origin steel products in the Turkish market continues to increase and steel imports from China reached approximately 2.5 million tons in the first seven months of the year,” he added.