Turkey Witnesses Consecutive Decline in Radiator Price to $2,024 per Ton over the Past Three Months

Turkey Radiator Export Price in July 2023

In July 2023, the radiator price stood at $2,024 per ton (FOB, Turkey), almost unchanged from the previous month. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in November 2022 an increase of 6.7% month-to-month. The export price peaked at $2,102 per ton in April 2023; however, from May 2023 to July 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In July 2023, the country with the highest price was France ($2,638 per ton), while the average price for exports to Romania ($1,422 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to France (+1.8%), while the prices for the other major destinations experienced more modest paces of growth.

Turkey Radiator Export Prices by Type

Average prices varied somewhat for the major types of exported product. In July 2023, the product with the highest price was radiators and parts thereof; for central heating, (not electrically heated), of cast iron ($3,010 per ton), while the average price for exports of radiators and parts thereof; for central heating, (not electrically heated), of iron or steel other than cast iron stood at $2,011 per ton.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for the following types: radiators and parts thereof; for central heating, (not electrically heated), of iron or steel other than cast iron (-0.3%).

Turkey Radiator Exports

In July 2023, approximately 15K tons of radiators for central heating (not electrically heated) were exported from Turkey; shrinking by -19.7% compared with the month before. Overall, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in August 2022 with an increase of 66% month-to-month.

In value terms, radiator exports declined remarkably to $31M (IndexBox estimates) in July 2023. In general, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in August 2022 with an increase of 58% against the previous month. As a result, the exports attained the peak of $49M. From September 2022 to July 2023, the growth of the exports remained at a somewhat lower figure.

Turkey Radiator Exports by Type

Radiators and parts thereof; for central heating, (not electrically heated), of iron or steel other than cast iron (15K tons) was the largest type of radiator exported from Turkey, accounting for a 99% share of total exports. It was followed by radiators and parts thereof; for central heating, (not electrically heated), of cast iron (210 tons), with a 1.4% share of total exports.

From July 2022 to July 2023, the average monthly rate of growth in terms of the volume of export of radiators and parts thereof; for central heating, (not electrically heated), of iron or steel other than cast iron was relatively modest.

In value terms, radiators and parts thereof; for central heating, (not electrically heated), of iron or steel other than cast iron ($31M) remains the largest type of radiator exported from Turkey, comprising 98% of total exports. The second position in the ranking was taken by radiators and parts thereof; for central heating, (not electrically heated), of cast iron ($631K), with a 2% share of total exports.

From July 2022 to July 2023, the average monthly rate of growth in terms of the export volume of radiators and parts thereof; for central heating, (not electrically heated), of iron or steel other than cast iron was relatively modest.

Turkey Radiator Exports by Country

The UK (5.5K tons) was the main destination for radiator exports from Turkey, with a 35% share of total exports. Moreover, radiator exports to the UK exceeded the volume sent to the second major destination, Romania (2.5K tons), twofold. The third position in this ranking was held by Germany (801 tons), with a 5.2% share.

From July 2022 to July 2023, the average monthly rate of growth in terms of volume to the UK totaled +1.0%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Romania (+3.7% per month) and Germany (+5.4% per month).

In value terms, the UK ($12M) remains the key foreign market for radiator exports from Turkey, comprising 39% of total exports. The second position in the ranking was taken by Romania ($3.6M), with a 12% share of total exports. It was followed by Germany, with a 6.6% share.

From July 2022 to July 2023, the average monthly rate of growth in terms of value to the UK amounted to +1.5%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Romania (+2.3% per month) and Germany (+2.9% per month).

Source: IndexBox Market Intelligence Platform