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Turkey - Hot-Rolled Steel Bars and Rods - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Apr 1, 2024

Turkey - Hot-Rolled Steel Bars and Rods - Market Analysis, Forecast, Size, Trends and Insights

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Article Publishing Date: Oct 20, 2023

Turkey's Steel Bar and Rod Export Increases by 2% to $270M in July 2023

Turkey Hot-Rolled Steel Bar and Rod Exports

In July 2023, shipments abroad of hot-rolled steel bars and rods increased by 7.7% to 415K tons, rising for the third consecutive month after three months of decline. Over the period under review, exports, however, saw a mild decline. The growth pace was the most rapid in August 2022 with an increase of 46% m-o-m. As a result, the exports attained the peak of 753K tons. From September 2022 to July 2023, the growth of the exports failed to regain momentum.

In value terms, hot-rolled steel bar and rod exports expanded modestly to $270M (IndexBox estimates) in July 2023. Overall, exports, however, saw a noticeable decline. The most prominent rate of growth was recorded in June 2023 with an increase of 34% m-o-m.Turkey Hot-Rolled Steel Bar and Rod Exports By Country (Million USD)

COUNTRYExport Value of Hot-Rolled Steel Bar and Rod in Turkey (million USD)
Jul 2022Aug 2022Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023Feb 2023Mar 2023Apr 2023May 2023Jun 2023Jul 2023
Israel38.177.078.460.086.458.761.152.137.556.642.336.061.9
Yemen4.253.933.642.223.953.752.536.722.010.218.554.944.5
Ethiopia3.87.2< 0.16.65.916.318.16.314.43.68.726.219.9
Romania0.27.048.33.33.622.26.85.04.61.34.03.09.9
United States60.838.14.513.13.46.126.80.417.46.019.90.37.9
Jamaica22.07.47.113.80.7N/A9.7N/A10.811.311.9< 0.17.1
Panama16.82.317.93.57.9N/A14.18.44.86.7N/A10.25.3
Others25331929618914293.872.895.310575.892.1135113
Total399512486331274251262204217171197265270

Exports by Country

Israel (101K tons), Yemen (75K tons) and Ethiopia (32K tons) were the main destinations of hot-rolled steel bar and rod exports from Turkey, with a combined 50% share of total exports. Romania, Jamaica, Panama and the United States lagged somewhat behind, together accounting for a further 9.3%.

From July 2022 to July 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Romania (with a CAGR of +45.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for hot-rolled steel bar and rod exported from Turkey were Israel ($62M), Yemen ($44M) and Ethiopia ($20M), with a combined 47% share of total exports. These countries were followed by Romania, the United States, Jamaica and Panama, which together accounted for a further 11%.

Romania, with a CAGR of +39.2%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Exports by Type

Iron or non-alloy steel; bars and rods, not further worked than forged, hot-rolled, hot drawn or hot-extruded, but including those twisted after rolling (354K tons) was the largest type of hot-rolled steel bar and rod exported from Turkey, accounting for a 85% share of total exports. Moreover, iron or non-alloy steel; bars and rods, not further worked than forged, hot-rolled, hot drawn or hot-extruded, but including those twisted after rolling exceeded the volume of the second product type, iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coils (51K tons), sevenfold. The third position in this ranking was taken by hot-rolled bars in bearing steels (9.9K tons), with a 2.4% share.

From July 2022 to July 2023, the average monthly rate of growth in terms of the volume of export of iron or non-alloy steel; bars and rods, not further worked than forged, hot-rolled, hot drawn or hot-extruded, but including those twisted after rolling was relatively modest. With regard to the other exported products, the following average monthly rates of growth were recorded: iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coils (-6.6% per month) and hot-rolled bars in bearing steels (-0.4% per month).

In value terms, iron or non-alloy steel; bars and rods, not further worked than forged, hot-rolled, hot drawn or hot-extruded, but including those twisted after rolling ($222M) remains the largest type of hot-rolled steel bar and rod exported from Turkey, comprising 82% of total exports. The second position in the ranking was held by iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coils ($32M), with a 12% share of total exports. It was followed by hot-rolled bars in bearing steels, with a 5.4% share.

From July 2022 to July 2023, the average monthly rate of growth in terms of the export volume of iron or non-alloy steel; bars and rods, not further worked than forged, hot-rolled, hot drawn or hot-extruded, but including those twisted after rolling totaled -2.4%. With regard to the other exported products, the following average monthly rates of growth were recorded: iron or non-alloy steel; bars and rods, hot-rolled, in irregularly wound coils (-8.2% per month) and hot-rolled bars in bearing steels (+1.2% per month).

Export Prices by Country

In July 2023, the hot-rolled steel bar and rod price stood at $650 per ton (FOB, Turkey), waning by -5.7% against the previous month. Over the period under review, the export price continues to indicate a mild setback. The pace of growth was the most pronounced in March 2023 an increase of 6.7% month-to-month. The export price peaked at $772 per ton in July 2022; however, from August 2022 to July 2023, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In July 2023, the countries with the highest prices were Trinidad and Tobago ($687 per ton) and Jamaica ($681 per ton), while the average price for exports to Syrian Arab Republic ($526 per ton) and Yemen ($591 per ton) were amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Cyprus (-0.3%), while the prices for the other major destinations experienced a decline.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for hot-rolled steel bar and rod in Turkey. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 24106110 - Ribbed or other deformed wire rod (of non-alloy steel)
  • Prodcom 24106120 - Wire rod of free-cutting steel
  • Prodcom 24106130 - Wire rod used for concrete reinforcing (mesh/cold ribbed bars)
  • Prodcom 24106140 - Wire rod for tyre cord
  • Prodcom 24106190 - Other wire rod (of non-alloy steel)
  • Prodcom 24106210 - Hot-rolled concrete reinforcing bars
  • Prodcom 24106230 - Hot-rolled bars in free-cutting steels
  • Prodcom 24106250 - Forged bars of steel and hot-rolled bars (excluding hollow drill bars and rods) of non-alloy steel (of other than of free-cutting steel)
  • Prodcom 24106300 - Hot-rolled wire rod in coil, of stainless steel
  • Prodcom 24106410 - Hot-rolled round bars, of stainless steel
  • Prodcom 24106430 - Bars and rods of stainless steel, only hot-rolled, only hotdrawn or only extruded (excluding of circular cross-section)
  • Prodcom 24106510 - Bars and rods of high-speed steel, hot-rolled, in irregularly wound coils
  • Prodcom 24106530 - Bars and rods of silico-manganese steel, hot-rolled, in irregularly wound coils
  • Prodcom 24106550 - Hot-rolled wire rod, of bearing steel
  • Prodcom 24106570 - Bars and rods of alloy steel other than stainless, hot-rolled, in irregularly wound coils (excluding products of bearing steel, h igh-speed steel or silico-manganese steel)
  • Prodcom 24106630 - Hot-rolled bars in bearing steels
  • Prodcom 24106640 - Hot-rolled bars in tool steels
  • Prodcom 24106650 - Hot-rolled bars (excluding hollow drill bars and rods) of alloy steel (other than of stainless, tool, silico-manganese, bearing and high speed steel)

Country coverage:

  • Turkey

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Turkey
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption In 2012-2023
    5. Imports, In Physical Terms, By Country, 2012–2023
    6. Imports, In Value Terms, By Country, 2012–2023
    7. Import Prices, By Country Of Origin, 2012–2023
    8. Exports, In Physical Terms, By Country, 2012–2023
    9. Exports, In Value Terms, By Country, 2012–2023
    10. Export Prices, By Country Of Destination, 2012–2023

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
    5. Trade Balance, In Physical Terms, 2012-2023
    6. Trade Balance, In Value Terms, 2012-2023
    7. Per Capita Consumption, 2012-2023
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    14. Production Volume And Growth
    15. Exports And Growth
    16. Export Prices And Growth
    17. Market Size And Growth
    18. Per Capita Consumption
    19. Imports And Growth
    20. Import Prices
    21. Production, In Physical Terms, 2012–2023
    22. Production, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, 2012–2023
    24. Imports, In Value Terms, 2012–2023
    25. Imports, In Physical Terms, By Country, 2023
    26. Imports, In Physical Terms, By Country, 2012–2023
    27. Imports, In Value Terms, By Country, 2012–2023
    28. Import Prices, By Country Of Origin, 2012–2023
    29. Exports, In Physical Terms, 2012–2023
    30. Exports, In Value Terms, 2012–2023
    31. Exports, In Physical Terms, By Country, 2023
    32. Exports, In Physical Terms, By Country, 2012–2023
    33. Exports, In Value Terms, By Country, 2012–2023
    34. Export Prices, By Country Of Destination, 2012–2023

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