Turkey's Steel Exports Dropped 17% Till June 2020

SEATTLE (Scrap Monster): The steel exports from Turkey recorded a dip of 16.6% in the first six months of the current year, said recent data published by the Turkish Ministry of Trade. This is upon comparison with the same period a year before. The exports amounted to $5.9 billion during Jan-June. The commodity accounted for approximately 8% of the country’s total exports during the initial six-month period of the current year.

The monthly data on exports suggest that the country exported steel worth over $1.1 billion to overseas markets in June 2020. The exports surged higher by 28.6% when compared with June 2019. The steel exports represented 8.4% of the total exports reported by Turkey during the month. The cumulative steel exports by the country totalled $12.6 billion during the past twelve-month period.

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Meantime, the official statistics released by the Turkish government noted that the country imported 1.53 million tons of scrap in June this year. The imports surged higher by one-third from those during the prior month. The major supplier of scrap to Turkey was the U.S., whose supplies totalled 293,000 tons. The other two main sources of import were Russia and the Netherlands, whose scrap shipment volumes totalled 237,000 tons and 189,000 tons respectively.