Turkish steel product exports to UAE in 8 months dawn by 9pct

- 23 Sep 2010

According to the data provided by the Istanbul Mineral and Metals Exporters Association, in the January to August period of this year Turkey's steel product exports to the United Arab Emirates its largest steel export market fell by 9.21% YoY reaching 1.4 million tonnes.

The revenue generated by these exports came to USD 765.48 million increasing by 15.97% as compared to the corresponding period of 2009 due to increased steel prices.

Meanwhile, as compared to the first 8 months of 2008, Turkey's steel product exports to the UAE regressed by 70.59% in volume and 82.6% in revenue.

Steel product exports to the UAE accounted for 12.47% share of Turkey's total steel product exports in the January to August period this year slightly up from the 12.20% share recorded in the first 8 months of 2009 but significantly down from the 38.23% in the corresponding period of 2008.

In the first 8 months of this year, Turkey's leading exported steel product to the UAE was steel bars including rebars with a volume of 828,200 tonnes down 33.66% followed by steel billet with an export volume reaching 444,870 tonnes almost two times higher as compared to the year ago period.

In the period in question, steel bar exports accounted for 59.05% of Turkey's total steel product exports to the UAE while steel billet constituted 31.72% of the total exports. Meanwhile in the given period, Turkey's flat steel product exports to the country in question rose from 3,450 tonnes to 9,200 tonnes.

(Sourced from Steel Orbis)