In February Turkey's wire rod exports surged significantly in volume and in revenue both on MoM and YoY basis after recording monthly drops for 3 consecutive months. In the given month, Turkish wire rod exports to the US market enjoyed an increase in demand and price advantage, while in the Far East market Turkey replaced Chinese exports which were at higher price levels according to market insiders.
According to the statistics released by the Istanbul Mineral and Metals Exporters' Association, in February this year Turkey's total wire rod exports amounted to 123,448 tonnes increasing by 86.25% YoY and up 81.28% over January. Meanwhile, the revenue generated by these exports totaled USD 64.65 million rising by 105.3% compared to the same month of the previous year and up 90.76% MoM.
In February, the average export price of Turkish wire rod amounted to USD 524 per tonne up USD 49 per tonne or 10.23% from January levels and indicating an increase of USD 26 per tonne or 5.21% compared to February 2009.
Turkey's top ten wire rod export destinations in January 2010:
| Country | Volume |
| USA | 42,414 |
| Singapore | 30,300 |
| Brazil | 18,793 |
| Egypt | 10,609 |
| Peru | 5,202 |
| Taiwan | 3,534 |
| Israel | 3,000 |
| Iran | 2,138 |
| Tunisia | 2,000 |
| Bolivia | 1,000 |
In tonnes
Meanwhile, in the first 2 months of 2010, Turkey's wire rod exports surged 14.72% amounting to 191,542 tonnes while the revenue of these exports totaled USD 98.55 million up 23.45% both compared to the corresponding period of 2009.
(Sourced from Steel Orbis)
