Turkish rebar exports rose sharply in March

The monthly import and export statistics published by the Turkish Statistical Institute (TUIK) show that the export of rebar from the country increased significantly during March and the first quarter of this year. Imports of billets and slabs also showed growth over the reporting period.

Turkey's domestic rebar market remained afloat throughout the quarter, according to trade officials. The growth in sales in the domestic rebar market led to an increase in demand for imports of ferrous scrap. The export price of Turkish rebar remained at $ 457.50 per tonne FOB.

During March 2015, the export of rebar from Turkey amounted to 724 955 tons, which is 8.9 percent higher compared to the export in the same month last year. Turkish rebar exports totaled 665,707 tons in March 2014. At the same time, in monetary terms, the export of rebar amounted to $ 328 million, which is 12.1 percent lower compared to $ 374 million in March last year. Exports of Turkish rebar in the three months from January to March 2015 amounted to 2.04 million tons, which is 3.13 percent higher compared to the corresponding period last year.

In addition, imports of billets and slabs to Turkey rose 91 percent in March 2015 to 418,741 tonnes on an annualized basis. However, imports fell 6.5 percent from the previous month. Turkish imports of billets and slabs amounted to 219,236 tons in March 2014 and 447,851 tons in February this year. The value of imports of billets and slabs in monetary terms amounted to $ 177.9 million, up 52 percent compared to the corresponding period last year. Total imports of billets and slabs during the three-month period from January to March of this year amounted to 1.16 million tons, up 72.6 percent compared to imports during the corresponding quarter last year.