Turkish exports of HRC are falling

According to data released by the Turkish Statistical Institute (TUIK), exports of hot rolled coils (HRC) from the country fell sharply during May of this year. TUIK data show that HRC exports totaled 92,521 tonnes during the month. This is 50.8 percent less compared to exports in the previous month. Exports were down 12.2 percent year on year. Turkey exported 105,377 tons of hot rolled coils in May 2014.

During the month, the export volume of hot rolled coils generates a total value of $ 41.4 million. The value of exports in monetary terms decreased by 33 percent compared to the previous year and by 50 percent compared to a month earlier.

The country's cumulative export of hot rolled coils over the five months from January to May this year amounted to 536,935 tons. Exports during this period were down 2 percent compared to the corresponding five-month period in 2014, when Turkish HRC exports totaled 547,893 tonnes. The United States was the largest export destination for Turkey's hot-rolled products. Turkish imports of HRC across the US reached 169,898 tons, accounting for nearly 32 percent of Turkey's total exports during the reporting period. Italy came in second with 80,579 tonnes of hot rolled coils.