Turkey's Wire and Cable Price Increases Markedly to $6,991 per Ton

Turkey Wire And Cable Export Price in January 2023

In January 2023, the wire and cable price stood at $6,991 per ton (FOB, Turkey), surging by 5.3% against the previous month. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices attained the peak figure at $7,483 per ton in February 2022; however, from March 2022 to January 2023, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In January 2023, the country with the highest price was Belgium ($13,153 per ton), while the average price for exports to Israel ($4,737 per ton) was amongst the lowest.

From January 2022 to January 2023, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+2.0%), while the prices for the other major destinations experienced more modest paces of growth.

Turkey Wire And Cable Export Prices by Type

Prices varied noticeably by the product type; the product with the highest price was wiring sets used in vehicles, aircraft or ships ($24,654 per ton), while the average price for exports of insulated electric conductors for a voltage over 1000 v ($5,224 per ton) was amongst the lowest.

From January 2022 to January 2023, the most notable rate of growth in terms of prices was recorded for the following types: insulated electric conductors for a voltage under 1000 v, fitted with connectors (+1.5%), while the prices for the other products experienced more modest paces of growth.

Turkey Wire And Cable Exports

In January 2023, exports of insulated wire and cable from Turkey dropped to 40K tons, which is down by -10.9% on December 2022. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in June 2022 when exports increased by 18% month-to-month.

In value terms, wire and cable exports declined to $281M (IndexBox estimates) in January 2023. Overall, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in June 2022 with an increase of 20% month-to-month.

Turkey Wire And Cable Exports by Type

Insulated electric conductors for a voltage under 80 v, not fitted with connectors (30K tons) was the largest type of wire and cable exported from Turkey, accounting for a 74% share of total exports. Moreover, insulated electric conductors for a voltage under 80 v, not fitted with connectors exceeded the volume of the second product type, insulated electric conductors for a voltage over 1000 v (5.8K tons), fivefold. Wiring sets used in vehicles, aircraft or ships (1.4K tons) ranked third in terms of total exports with a 3.5% share.

From January 2022 to January 2023, the average monthly growth rate of the volume of export of insulated electric conductors for a voltage under 80 v, not fitted with connectors was relatively modest. With regard to the other exported products, the following average monthly rates of growth were recorded: insulated electric conductors for a voltage over 1000 v (+7.3% per month) and wiring sets used in vehicles, aircraft or ships (-0.1% per month).

In value terms, insulated electric conductors for a voltage under 80 v, not fitted with connectors ($180M) remains the largest type of wire and cable exported from Turkey, comprising 64% of total exports. The second position in the ranking was taken by wiring sets used in vehicles, aircraft or ships ($35M), with a 12% share of total exports. It was followed by insulated electric conductors for a voltage over 1000 v, with an 11% share.

From January 2022 to January 2023, the average monthly rate of growth in terms of the export volume of insulated electric conductors for a voltage under 80 v, not fitted with connectors was relatively modest. With regard to the other exported products, the following average monthly rates of growth were recorded: wiring sets used in vehicles, aircraft or ships (-0.0% per month) and insulated electric conductors for a voltage over 1000 v (+7.0% per month).

Turkey Wire And Cable Exports by Country

The UK (7.8K tons) was the main destination for wire and cable exports from Turkey, accounting for a 19% share of total exports. Moreover, wire and cable exports to the UK exceeded the volume sent to the second major destination, Germany (3.9K tons), twofold. The third position in this ranking was held by Israel (3K tons), with a 7.5% share.

From January 2022 to January 2023, the average monthly growth rate of volume to the UK totaled -1.4%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Germany (+3.8% per month) and Israel (+1.2% per month).

In value terms, the UK ($51M), Germany ($35M) and Israel ($14M) constituted the largest markets for wire and cable exported from Turkey worldwide, with a combined 35% share of total exports. These countries were followed by Iraq, Ireland, the United States, the Netherlands, Belgium, Austria, Poland, France, Bulgaria and Greece, which together accounted for a further 30%.

Austria, with a CAGR of +12.8%, recorded the highest growth rate of 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.

Source: IndexBox Market Intelligence Platform