Turkish rebar exports experienced a recovery in May 2023, with a nearly 24pct increase compared to the previous month. However, when compared to the same month last year, the exports almost halved, according to data from TUIK.
The lack of interest in Turkish rebar from overseas buyers is due to weak demand and the availability of cheaper rebar options from other countries.
During May, Israel emerged as the top buyer of Turkish rebar, importing 47,998 tons. The USA followed as the second major destination, with 31,645 tons, and Yemen ranked third, importing 24,952 tons. Other significant markets for Turkish rebar in April included Jamaica (15,452 tons), Ethiopia (12,049 tons), Djibouti (11,823 tons), Cyprus (9,089 tons), Syria (7,253 tons), and Lebanon (7,419 tons).
In the first five months of 2023, Turkish rebar exports reached a total of 1.1 mln tons, indicating a significant decline of nearly 60pct compared to the same period in the previous year. Israel maintained its position as the leading destination for Turkish rebar exports, with a total of 257,772 tons, followed by Yemen with 207,578 tons.
