Iron Exports Exceeded $2 Billion

Exports by the Aegean Iron and Non-Ferrous Metals Exporters Association exceeded USD 2 billion. The steel sector increased its exports from USD 10.03 billion to USD 18.12 billion with an 81% increase during January-October 2021, while the Aegean Iron and Non-Ferrous Metals Exporters Association (EDDMİB) increased its exports from USD 1.31 billion to USD 2.108 billion with a 61% increase over the past 12 months. Having surpassed the USD 2 billion export threshold within the Aegean Exporters Associations, the Aegean Iron and Non-Ferrous Metals Exporters Association's new target is to break the 2011 export record of USD 2.445 billion. Yalçın Ertan, Chairman of the Aegean Iron and Non-Ferrous Metals Exporters Association, stated that they achieved USD 1.837 billion in exports with a 68% increase during January-October 2021, noting that steel represented the largest share at USD 1.326 billion, copper exports stood at USD 277 million, non-ferrous metals at USD 154 million, and aluminum exports at USD 79.4 million.

Steel sector sets export record

Drawing attention to the rise in raw material prices witnessed globally following the pandemic, which also manifested itself in the Iron and Non-Ferrous Metals sector, Ertan stated, "Our steel exports increased by 37% in volume from 965,000 tons to 1.322 million tons, while the value-based increase jumped by 79% from USD 740 million to USD 1.326 billion. Similar increases were also observed in copper, aluminum and non-ferrous metals." Chairman Ertan shared information that the iron and steel sector topped Turkey's overall exports in September with USD 2.613 billion, and in October they ranked third among national exports with USD 2.294 billion, adding that with an 81% export increase over the 10-month period, they were the export growth record holder among 27 main sectors with recorded exports. Members of the Aegean Iron and Non-Ferrous Metals Exporters Association exported to 175 countries during the 10-month period of 2021, with Germany ranking first at USD 202.105 million. The United Kingdom, which ranked 6th in 2020 with exports of USD 42.7 million, jumped to second place in 2021 with a 188% export increase, purchasing USD 123.4 million worth of Turkish steel. Yemen ranked third on the list with demand of USD 104.7 million. The most striking increase in iron and non-ferrous metals exports from the Aegean was to Hong Kong. Exports to Hong Kong surged from USD 980,000 to USD 66 million with a 6,633% increase.