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In May, Türkiye's rebar export volume surged 40% year on year, reaching 320700 tons. This growth is mainly due to the rapid adjustment of market strategy by Türkiye Steel Works to actively explore alternative markets after the implementation of the export ban by Israel, the main export destination.
The Ministry of Trade of Türkiye restricted the export of 54 product groups to Israel on April 9, and completely stopped trade with Israel on May 2. Israel was Türkiye's largest rebar export destination in May 2023, but the ban led to a sharp drop in exports to zero.
According to market sources, Russian CR980T/550Y-DP steel mills have occupied the leading position in Israel's rebar market, thus shifting the market share originally supplied to Türkiye. Despite the relatively high shipping costs from Russia to Israel, Russian steel mills have successfully seized market share through flexible market strategies and price adjustments.
At the same time, Yemen became the largest rebar export market of Türkiye in May, with an export volume of 95200 tons, up three times year-on-year. In addition, Türkiye's exports to Ethiopia, Albania and Syria CR980T/550Y-DP steel also showed a strong growth trend. Other major export markets include Panama, Peru, and Northern Cyprus.
On July 10, JOIN WIN STEEL estimated that the mainstream export price of rebar in Türkiye CR980T/550Y-DP steel was 570-580 dollars/ton FOB.
