Turkish rebar exports dropped in Apr '15

ANKARA (Scrap Monster): The monthly import and export statistics released by the Turkish Statistical Institute (TUIK) indicates that the country’s rebar exports edged lower during the month of April this year.

The country’s rebar exports totaled 642,074 tons during the month of April 2015. This is 11.3% lower when compared with the exports during the previous month. The Turkish rebar exports had totaled 724,955 tons during March this year. The value generated by rebar exports totaled $282.83 million, significantly lower by 28.6% when compared with $396.12 million during April last year. The value of exports has dropped by 13.77% over the previous month. The rebar exports by Turkey had generated $374 million during March this year.

The rebar exports during the four-month period from January to April this year totaled 2.682 million tons.

The largest export destination of Turkish rebars during the initial four-month period in 2015 was the UAE. The Turkish rebar imports by the UAE totaled 512,145 tons, accounting for almost one-fifth of the total rebar exports by Turkey during this period. The imports by the UAE surged higher by almost 39.15% when compared with the corresponding four-month period in 2014. The second largest importer of rebars from Turkey was the US. The US rebar imports from the country soared by nearly 92% over the previous year to total 412,400 tons.

According to trade sources, Turkish rebar was assessed at $442 per mt FOB Turkish ports on June 8^th Monday, falling by $13 per mt on the back of falling lira.