Turkish rebar exports slump during January

Author: Paul Ploumis
11 Mar 2015 Last updated at 03:13:45 GMT
ANKARA (Scrap Monster): The latest statistics released by the Turkish Statistical Institute (TUIK) indicates that the country’s exports of reinforced bars dropped sharply during the month of January this year.

According to TUIK statistics, the rebar exports during Jan ‘15 totaled 563,000 tons. Over the year, the exports plunged heavily by 26.5%. The Turkish rebar exports during January 2014 had totaled 766,000 tons. When compared with the previous month, the Turkish rebar exports during Jan ’15 dropped by 25%. The rebar exports from Turkey had totaled 754,000 tons during Dec ’14.

The rebar export prices during the month averaged at $492 per ton, down by over 15% when compared with the average export price during the same month a year ago. The rebar export prices had averaged at $582 per ton during Jan ‘14.

The largest export destination of Turkish rebars was Iraq. The imports by Iraq totaled 109,000 tons, accounting for almost one-fifth of the total rebar exports by Turkey during the month. The second largest importer of Turkish rebars was Yemen with 60,000 tons.

According to industry sources, the rebar exports from Turkey to the US had dropped significantly following the decision by the US Department of Commerce (US DOC) to impose anti-dumping duties on rebar imports from Turkey and Mexico during early-2014.