Turkey’s steel product exports continued to increase in the first two months of 2019
The exports of steel products, which increased by 17.7% compared to the same period of the previous year, reached 1.87 million tons. Last month, exports of long steel products decreased by 4.1 percent to 760 thousand tons. Flat steel products’ exports increased by 38.6 percent to 641 thousand tons. A similar decrease was observed in exports of flat products with 536 thousand tons with 14.4 percent.
One of the prominent figures of February was the increase in exports of semi-finished steel products. The exports of semi-finished products, which increased by 348.2 percent to 136 thousand tons, were at 30 thousand tons in the same period last year.In first two months of this year, Turkey’s total steel product exports increased 17 percent to 3.8 million tons, reaching $ 2.5 billion in value.
Turkey’s Steel Imports Continue to Fall
Last month Turkey’s total steel product imports decreased 30.6 percent, down to 853 thousand tons, while overall steel imports experienced 29.2% decline in value down to 748 million dollars. Considering the first two months of this year, Turkish steel imports decreased 31% to 1.8 million tons. This period’s total steel imports valued $ 1.5 billion, down 29.5 percent.
Last year, major steel markets started to implement protectionist measures on both aluminum and steel products imports. This situation led the steel products’ markets to start shifting their focus to other markets. Earlier this year, European Union finalized its measures for steel imports. The United States implemented Section 232 quota and tariff measures as well.
In February, imports of semi-finished products decreased by 49.7 percent to 205,000 tons. A similar decline was observed in long steel products at a level of 44.3 percent with imports of 69 thousand tons.As a result, in February 2019, the ratio of Turkey’s steel sector exports to imports increased to 183% level. In 2018, this rate was 124%.
In the first two months of this year, finished steel production decreased by 23.6% to 5 million tons and final product consumption decreased by 39% to 3.4 tons.