East Asian and South American demand boosts Turkey's Q1 rebar exports

Bursa — As higher demand from Hong Kong and Singapore, and some Latin American countries, particularly Peru, notably supported Turkish mills' rebar exports they reached 1.72 million mt total in the first quarter, 110,000 mt higher on year, S&P Global Platts observed from the latest Turkish Statistical Institute (TUIK) data April 30.

Israel was Turkey's largest rebar export destination in Q1 at 250,500 mt, up 21% on year, while shipments to Yemen totaled 173,600 mt, sharply down from 379,400 mt in the same period the previous year.

After shipping a total of 250,000 mt of rebar to Hong Kong and Singapore in the first two months of the year, considered to be China's backyard, Turkish mills managed to ship a further 100,000 mt of rebar to these two countries in March.

Singapore became one of Turkey's largest rebar export destination in Q1 at around 200,000 mt, 60,000 mt higher on year, while Turkish mills' rebar shipments to Hong Kong totaled 150,000 mt, up from zero.

Turkey's rebar shipments to South American and Caribbean regions were also strong. Turkish mills shipped 199,600 mt to Peru in Q1, a tenfold on-year increase, while shipments to Brazil reached 79,000 mt, also up from zero.

Turkish mills' rebar exports to the US totaled 66,400 mt in Q1, significantly lower than 146,100 mt exported in the same period of 2020.

Turkish mills also shipped 45,800 mt of rebar to Jamaica in Q1, while shipments to Lebanon totaled 38,400 mt.

Turkey's other rebar export destinations in Q1 were: Iraq (35,400 mt), the Netherlands (28,400 mt) and Argentina (29,300 mt), the latest data showed.