Posted on 03 Dec 2018
Turkish rebar exports surged 85% on-year in October to 754,447 tonnes, their highest monthly tonnage since February 2015, according to Turkish Statistical Institute (TUIK) data monitored by Kallanish. Their average value was $514.4/tonne versus $517.6/t in October 2018.
The huge jump was thanks to Hong Kong alone taking in a massive 201,724t versus zero in the year-earlier month. Singapore also took in 83,617t versus zero last year and Myanmar sourced 22,345t versus zero. Top-two markets Israel and Yemen took in 93,106t and 53,644t respectively, up 42% and up 7%.
However, supply to Canada more than halved to 27,616t and exports to Germany fell -45% on-year to 23,500t.
In total Southeast Asia accounted for 326,565t of October rebar exports versus only the 3,900t shipped to Malaysia in October 2017. This clearly shows how crucial the region has become for Turkish exporters in the face of trade barriers in traditional major markets the US and Egypt, and self-sufficiency in United Arab Emirates. The worry currently is that, with Chinese steel prices tanking in recent weeks, Turkish mills be unable to rely on Southeast Asia to offset sluggish demand in other regions.
Turkish semi-finished product exports, meanwhile, surged 150% in October to 140,497t, with HS code 720711 billet accounting for 87,780t. Sri Lanka and Morocco took in 55,683t and 25,184t respectively of this category.
Rebar exports in the nine months through October thus rose 10% on-year to 4.87 million tonnes, with Yemen and Israel taking in 696,765t and 581,769t respectively. Canada was third with 307,802t.
Ten-month semis exports fell -10% to 610,103t, with HS code 720711 billet accounting for 345,505t.
