Author: Paul Ploumis
19 May 2015 Last updated at 02:32:23 GMT
ANKARA (Scrap Monster): The monthly import and export statistics released by the Turkish Statistical Institute (TUIK) indicates that the country’s rebar exports jumped higher during the month of March this year. The billet and slab imports by the country too were up during the month.
The country’s rebar exports totaled 724,955 tons during the month of March. This is 8.9% higher when compared with the exports during the same month a year ago. The Turkish rebar exports had totaled 665,707 tons during March 2014. The value generated by rebar exports totaled $328 million, 12.1% lower when compared with $374 million during March last year.
The rebar exports during the three month period from January to March this year totaled 2.04 million tons, 3.13% higher when compared with the corresponding quarter last year.
Also, Turkey’s imports of billet and slab were up 91% during March, totaling 418,741 tons. However, on month-on-month basis, the imports dropped 6.5%. The Turkish imports of billet and slab had totaled 219,236 tons in March 2014 and 447,851 tons in February this year. The value generated by country’s billet and slab imports totaled $177.9 million, surging higher by 52% year-on-year.
The cumulative billet and slab imports during the three-month period from January to March this year totaled 1.16 million tons. This is 72.6% higher when compared with the imports during the corresponding quarter last year.
According to trade sources, domestic rebar market remained buoyant in Turkey during the quarter. The rise in domestic rebar sales has resulted in increased demand for imported ferrous scrap. The rebar export prices have gained significantly over the period. The export price of Turkish rebar remained at $457.50 per mt FOB on Tuesday.