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Kallanish Kallanish

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November, 17th 2018

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NOV 09
13:51

Turkish rebar exports surge despite zero US sales

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Turkish rebar exports continued to defy the odds in September, surging 120% on-year to 547,610 tonnes, despite increasing global trade barriers, according to Turkish Statistical Institute (TUIK) data monitored by Kallanish. Their average value was $523/tonne versus $492/t in September 2017.

The main market by far was Singapore, which took in 144,015t versus only 39,023t a year earlier. This was followed by regular buyers Israel and Yemen with 57,482t and 47,809t respectively, up 19% and up 63%. Germany and the Netherlands took in over 20,000t and 30,000t respectively versus virtually zero each last year. Lebanon and Australia took in 19,461t and 12,075t respectively versus zero each.

This means that after slumping -15% on-year in the first half of 2018, Turkish rebar exports surged 69% on-year in the third quarter to 1.5 million tonnes.

Turkey also exported 87,887t of HS code 720711 billet in September, almost treble last year’s level. Philippines and Libya sourced 50,000t and 30,000t respectively versus zero last year. HS code 720720 semis exports reached 79,779t versus 572t last year. This came as Taiwan and the Philippines sourced 48,033t and 31,500t respectively.

Turkish rebar exports in the nine months through September thus rose 3% on-year to 4.17mt. Yemen, Israel and the US were the largest markets with 643,136t, 489,014t and 303,908t respectively.

Nine-month HS code 720711 exports, however, fell -39% on-year to 255,814t, but HS code 720720 exports surged 85% to 183,622t thanks mainly to Taiwan, Philippines and Libya demand.