Weakening of Israel exports was reflected in the data on Turkish rebar; new markets are targeted

According to the data announced by the Turkish Statistical Institute (TUIK), although an increase was felt on a yearly basis in September 2023, it reached 407,773 mt, recording a decrease of approximately 32% compared to the previous year.

In the January-September period of 2023, Turkiye's rebar exports decreased by 45%. Manufacturers affected by the earthquake in February, called the disaster of the century, in Turkiye and the region, turned to the domestic market and experienced a rapid recovery process.

Production slowed down throughout the country in the second quarter of 2023 due to inflation and energy costs. The steel industry was also going through difficult times in global markets. Although all experts have commented that better developments await the steel industry in 2024, Turkiye exported 502,918 mt of rebar in September last year. While producers outside the three main countries continue to search for new markets, they expect protections to be increased in order to be competitive in the global market.