Turkey - Hot-Rolled Steel Bars and Rods - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPrice for Hot-Rolled Steel Bar and Rod in Turkey - 2023
Contents:
- Price for Hot-Rolled Steel Bar and Rod in Turkey (FOB) - 2023
- Price for Hot-Rolled Steel Bar and Rod in Turkey (CIF) - 2023
- Exports of Hot-Rolled Steel Bar and Rod in Turkey
- Imports of Hot-Rolled Steel Bar and Rod in Turkey
Price for Hot-Rolled Steel Bar and Rod in Turkey (FOB) - 2023
The average export price for hot-rolled steel bars and rods stood at $650 per ton in July 2023, which is down by -5.7% against the previous month. In general, the export price recorded a mild reduction. The pace of growth appeared the most rapid in March 2023 when the average export price increased by 6.7% month-to-month. Over the period under review, the average export prices attained the peak figure at $772 per ton in July 2022; however, from August 2022 to July 2023, the export prices failed to regain momentum.
Average prices varied somewhat for the major foreign 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.
Price for Hot-Rolled Steel Bar and Rod in Turkey (CIF) - 2023
In July 2023, the average import price for hot-rolled steel bars and rods amounted to $799 per ton, which is down by -3.1% against the previous month. In general, the import price saw a pronounced descent. The most prominent rate of growth was recorded in May 2023 when the average import price increased by 5.2% m-o-m. The import price peaked at $1,108 per ton in July 2022; however, from August 2022 to July 2023, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Germany ($1,226 per ton), while the price for Iran ($532 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Russia (+0.6%), while the prices for the other major suppliers experienced a decline.
Exports of Hot-Rolled Steel Bar and Rod in Turkey
In 2022, exports of hot-rolled steel bars and rods from Turkey declined notably to 7.1M tons, which is down by -22.8% on the previous year. Over the period under review, exports saw a noticeable decrease. The pace of growth was the most pronounced in 2021 when exports increased by 20%. As a result, the exports reached the peak of 9.1M tons, and then contracted notably in the following year.
In value terms, hot-rolled steel bar and rod exports fell to $5.4B in 2022. Overall, total exports indicated a resilient increase from 2019 to 2022: its value increased at an average annual rate of +11.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +59.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 79%. As a result, the exports attained the peak of $6B, and then fell in the following year.
| Export of Hot-Rolled Steel Bar and Rod in Turkey (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Israel | 625 | 558 | 1,798 | 823 | 9.6% |
| Yemen | 459 | 370 | 1,016 | 480 | 1.5% |
| Singapore | 321 | 142 | 742 | 368 | 4.7% |
| Brazil | 26.2 | 30.4 | 510 | 229 | 106.0% |
| Hong Kong SAR | 102 | 272 | 460 | 217 | 28.6% |
| Canada | 20.6 | 18.7 | 423 | 195 | 111.5% |
| Peru | 30.8 | 53.4 | 401 | 185 | 81.8% |
| United States | 63.4 | 238 | 372 | 176 | 40.5% |
| Romania | 136 | 57.8 | 306 | 139 | 0.7% |
| Chile | 60.3 | 17.9 | 291 | 135 | 30.8% |
| Netherlands | 112 | 95.2 | 306 | 134 | 6.2% |
| Senegal | 70.3 | 83.8 | 278 | 127 | 21.8% |
| Lebanon | 99.7 | 86.9 | 223 | 108 | 2.7% |
| Others | 1,733 | 1,351 | -1,082.1 | 2,082 | 6.3% |
| Total | 3,859 | 3,374 | 6,045 | 5,397 | 11.8% |
Top Export Markets for Hot-Rolled Steel Bar and Rod from Turkey in 2022:
- Israel (1075.2K tons)
- Yemen (678.0K tons)
- Singapore (547.3K tons)
- Hong Kong SAR (317.2K tons)
- Brazil (288.8K tons)
- Peru (256.5K tons)
- Canada (230.4K tons)
- United States (216.3K tons)
- Netherlands (171.8K tons)
- Chile (166.9K tons)
- Senegal (165.0K tons)
- Lebanon (154.5K tons)
- Romania (152.7K tons)
Imports of Hot-Rolled Steel Bar and Rod in Turkey
In 2022, imports of hot-rolled steel bars and rods into Turkey rose markedly to 830K tons, surging by 7% compared with 2021 figures. Over the period under review, imports, however, recorded a pronounced descent. The pace of growth was the most pronounced in 2021 when imports increased by 37% against the previous year.
In value terms, hot-rolled steel bar and rod imports soared to $871M in 2022. Overall, imports showed a prominent increase. The most prominent rate of growth was recorded in 2021 with an increase of 97%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.
| Import of Hot-Rolled Steel Bar and Rod in Turkey (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Russia | 61.5 | 37.2 | 147 | 127 | 27.3% |
| Spain | 96.6 | 97.0 | 156 | 120 | 7.5% |
| Germany | 31.1 | 41.5 | 136 | 111 | 52.8% |
| Iran | 146 | 13.8 | 38.9 | 71.9 | -21.0% |
| Italy | 19.2 | 32.7 | 65.6 | 61.6 | 47.5% |
| Japan | 24.0 | 20.4 | 54.4 | 53.9 | 31.0% |
| China | 29.2 | 16.2 | 42.5 | 41.4 | 12.3% |
| South Korea | 21.9 | 25.7 | 49.7 | 39.3 | 21.5% |
| United Kingdom | 38.3 | 25.4 | 28.4 | 28.2 | -9.7% |
| Others | 67.7 | 61.9 | 12.9 | 218 | 47.7% |
| Total | 536 | 372 | 732 | 871 | 17.6% |
Top Suppliers of Hot-Rolled Steel Bar and Rod to Turkey in 2022:
- Russia (142.6K tons)
- Spain (128.4K tons)
- Iran (116.5K tons)
- Germany (68.0K tons)
- Italy (53.3K tons)
- Japan (48.0K tons)
- South Korea (37.5K tons)
- China (35.1K tons)
- United Kingdom (32.9K tons)
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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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