EU quotas hamper Turkish rod exports in January

Turkish wire rod exports declined in January, by -35% on-year to 110,651 tonnes; however, they were up 6.2% from December, according to Turkish Statistical Institute (TUIK) data monitored by Kallanish. Their average price fell to $465/tonne versus $488/t in January 2019. However, they were up from $446/t in December 2019.

January exports of round rod below 14mm diameter comprised 61,938t, down -50% on-year. Israel was the main buyer with 19,908t, up 4.5% on-year. This was followed by Egypt which more than doubled its intake from 3,462t in January 2019 to 8,498t in January 2020. Libya took in 6,155t versus zero last year, followed by Serbia with 3,474t versus only 283t a year earlier.

Compared to 14,389t last year, Romania took in only 2,812t in January, while Bulgaria and Belgium sourced zero this year versus 10,165t and 6,703t respectively last year. This was the result of European quotas being fulfilled by Turkish mills. Lebanon, with 7,605t a year earlier, sourced only 500t in January.

Exports of deformed reinforcing rod, meanwhile, increased 2.1% on-year in January to 45,614t. However, this was down from 52,786t in December 2019. Israel was again the largest destination with 25,554t versus 11,994t a year earlier. Singapore took in 16,547t and Romania 1,036t versus 1,978t and 7,290t respectively last year. Haiti, which sourced 10,307t last year, sourced zero in January.