Turkish steel exports to the GCC region experienced a mixed performance in May 2023. While Turkish steel exports to Saudi Arabia declined, there was a notable increase in exports to the UAE and Qatar.
In May 2023, the total Turkish steel exports to the GCC region reached 65,675 tons.
In the case of Saudi Arabia, there was a 17pct YoY decline in Turkish steel exports, both in terms of quantity and value. In May, the exports amounted to 3,005.69 tons, valued at USD 2.7 mln. The major Turkish steel products imported by Saudi Arabian buyers were 1,988 tons of profiles and nearly 600 tons of hot rolled plates. From January to May, Turkish steel exports to Saudi Arabia totaled 29,186 tons, valued at USD 35.2 mln.
On the other hand, Turkish steel exports to the UAE experienced a significant increase from 425 tons in April to 5,599 tons in May. The export value also rose to USD 5.54 mln compared to USD 53,012 in April. The main item imported by UAE buyers in May was Turkish profiles, with a quantity of 4,845 tons. From January to May, Turkish steel exports to the UAE reached 27,304 tons, valued at USD 26.3 mln.
Qatar imported 1,249 tons of steel products from Turkey in May, amounting to USD 1 mln, while in April, the imports stood at 268 tons with a value of USD 283,382. Turkish steel profiles, totaling 934 tons, were the major products imported by Qatar during the given period. Overall, Turkish steel exports to Qatar in January to May 2023 amounted to 3,823 tons, with a value of USD 3.45 mln.
In the case of Kuwait, Turkish steel exports totaled 3,523 tons with a value of USD 2.74 mln in the first five months of 2023. In May, Turkish exporters sold 1,380 tons to Kuwait, primarily consisting of profiles (1,142 tons), with a value of USD 1 mln. There were no Turkish steel exports observed in April.
Lastly, Turkish steel exports to Oman and Bahrain were minimal in May, totaling 186 tons and 53 tons, respectively. From January to May 2023, Oman imported 1,344 tons of Turkish steel, while Bahrain imported 495 tons.
