Turkey’s exports of rebar reach 5 million in January – August
Rebar producers managed to increase exports by 82.4% to 639,874 t year-on-year in August, according to the Turkish Statistical Institute (TUIK).
In January – August, Turkey’s exports of rebar increased by 38.2% and approached 5 million t, MENA region remained the key sales destination with a 33% share in the total exports, absorbing 1.6 million t (10.4% up y-o-y). Singapore registered the most visible growth in bookings, ramping them up from 236,000 t to 584,000 t on an annualized basis. Latin America also continued to deepen trade ties with Turkish mills, having bought more than 1 million t of rebar, up by 254% year-on-year. US, one of the main markets for Turkish mills, fell by 49% to 165,000 t, shipments to Canada gained almost 399%, hitting 150,000 t.
As for the Arab countries, Yemen ranked second and first in the Arab world with 589,168 t, down by -14.7% in January-August of 2021, and Iraq with 128,956 t, an increase of 65.1% in the same period.