Turkey decreased steel exports by 8.6% y/y in February

In February 2026, Turkey reduced its steel exports by 8.6% year-on-year, to 1.1 million tons. This is according to data from the Turkish Steel Producers’ Association (TCUD).

The value of these exports for the period decreased by 9.2% year-on-year, to $714.8 million.

In the first two months of 2026, steel exports from the country fell by 13.5% compared to the same period in 2025, to 2 million tons, while their value decreased by 15.2% year-on-year to $1.3 billion.

In February, the country increased imports of metal products by 9% year-on-year – to 1.5 million tons, and by 7.2% year-on-year in value terms to $1 billion. In January–February, this figure decreased by 10.8% year-on-year – to 2.7 million tons, with the value of these imports amounting to $1.9 billion (-11.7% year-on-year).

The export-to-import ratio in January-February fell to 69.7% compared to 72.5% for the same period the previous year.

In February, rolled steel consumption in Turkey reached 3.2 million tons (+11.3% year-on-year); in the first two months of the year, it grew by 4.1% year-on-year, totaling 6.7 million tons.

TCUD notes a trend toward a decline in exports to the EU and growing concerns that this decline will deepen further ahead of the bloc’s introduction of new protective measures. In January–February, Turkish exports of metal products to the EU fell by 36% year-on-year to 540,500 tons. Meanwhile, in the Middle East, Turkey’s second-largest export market, demand has plummeted due to geopolitical risks and economic downturn.

“Although a modest increase in exports to South America and the CIS countries indicates positive prospects in terms of market diversification, losses in key export markets could not be offset,” the association notes.

Weak demand in key markets, price pressure, and tightening trade restrictions limited the impact of sales growth in alternative markets.

As a reminder, Turkish steelmakers increased steel production by 3.3% year-on-year last year, to 38.12 million tons. Pig iron production in the country fell by 4.6% year-on-year, to 9.71 million tons.