Higher prices for global and domestic steel products in Turkey contributed to a significant increase in its flat steel products (HRC) exports in February, which rose by 43.5% year-on-year to 108,987 tons, according to the Turkish Statistical Institute (TUIK).
North Africa topped the list of HRC buyers with a 40% share in February, with bookings up by 21% thanks to business in Egypt.
Iraq also ordered massive shipments, nearly doubling exports to the Middle East, increasing the region’s share from 13% to 17%.
Despite quotas and duties imposed by the European Union, Turkish factories managed to increase sales by 78.5%, which represents 35% of the total monthly supply of flat steel products (HRC).
During January-February, the data showed a 28.5% jump in flat steel exports (HRC) to reach 252,896 tons compared to the same period in 2021, which amounted to 196,834 tonnes.
During this period, Egypt topped all countries with 92,732 tonnes, compared to only 144 tonnes from January to February 2021, followed by Iraq with 30,361 tonnes. The data also showed other Arab countries such as Tunisia 12,919 tonnes, Algeria 9,947 tonnes, Lebanon 6,267 and Libya 3,992 tonnes.