The main export destinations were Israel and Yemen
In 2023, Turkish steelmakers reduced rebar exports by 37.7% compared to 2022, to 3.39 million tons. This is evidenced by preliminary data from the Turkish Statistical Institute (TUIK), SteelOrbis reports.
In December 2023, Turkish steelmakers exported 335.36 thousand tons of rebar, an increase of 19.9% compared to November and 23% compared to December 2022.
Revenue from rebar exports decreased by 46.9% per year – to US$2.13 billion last year, while in December it increased by 25.2% m/m and 4.8% per year – to US$198.69 million .
In 2023, the main export destinations for Turkey's relevant products were Israel and Yemen – 726.41 thousand tons (-29.9% per year) and 730.3 thousand tons (+1.5% per year), respectively. Another 246 thousand tons of rebar were shipped to Ethiopia (+207% per year).
A decrease in Israel's consumption of Turkish rebar due to military operations in the country has affected Turkey's total exports.
As previously reported by Compraço, Türkiye reduced steel production by 4% in 2023 compared to 2022 – to 33.714 million tons. The country's average monthly steel production in 2023 was 2.81 million tons, a drop of 4.04% per year.
The country's steel exports decreased by 30.6% per year – to 10.5 million tons over the year. Export revenue decreased by 40.7% – to US$8.3 billion. Steel imports to Turkey in 2023 increased by 15.5% year-on-year – to 17.1 million tonnes, while import costs decreased by 6.1% year-on-year – to $14.6 billion.
