Turkey’s Steel Exports Down In June 2013
News: According to data from Turkey ' s Steel Exporters ' Association, steel product exports from the country in June 2013 totalled 1.5mn tonnes, reports Steel Orbis. This figure indicates a 10.1% month-on-month (m-o-m) decline and a 20.7% year-on-year (y-o-y) decline. The revenue generated by these exports fell by 22.9% compared to the previous month to US$1.1bn. In H113, meanwhile, Turkey ' s steel exports were down 0.5% y-o-y to 10mn tonnes. Accordingly, the value of these exports was down 7% y-o-y to US$7.5bn.
BMI View: In the first 11 months of 2012, Turkey produced 33.0mn tonnes (mnt) of steel, up 6.7% on the same period in 2011, according to the World Steel Association (WSA). This followed a strong 2011 when output grew 17.2% y-o-y . As a result, Turkey represented 2.4% of global output growth. BMI believes Turkey is still on course for its estimated 6% growth in crude steel output for 2012, to 36.1mnt. The country is increasingly self-sufficient in a broad range of steel products as a result of increased capacity and a moderation in domestic demand growth.