Turkey exported 4.42mn mt of rebar in the first 10 months of 2020 compared with 4.78mn mt in the same period of 2019, according to statistical source SteelData.
The 7.4pc decline in exports can be explained by the growing protectionism measures across the globe. Israel was the key outlet for Turkish longs producers, with shipment to this destination increasing by 1.5pc to 730,000mt in January-October 2020. The next important destination was Yemen, despite a 6.5pc decrease in shipments tallying at 712,000mt to the destination.
Turkey exported 380,000mt of rebar to the USA during the period under review compared with 70,000mt in January-October 2019. Turkey is gradually reviving its market share in the US, though shipments to the outlet are still far from the levels seen in the best years of trade between the two countries.
Rebar shipment from Turkey to Hong Kong rose by 87.1pc to 402,000mt from the beginning of this year, but decreased by 56.9pc to 234,000mt to Singapore. Below are the main outlets for Turkish rebar:
Turkey’s top 10 rebar export destinations (mt)
|Jan-Oct 2019||Jan-Oct 2020|