Turkey increased its exports of steel products by 13.9% y/y in January-July

In January-July 2025, Turkey increased its exports of steel products by 13.9% compared to the same period in 2024, to 8.8 million tons. In terms of value, the figure reached $6 billion (+5.4% y/y). This is evidenced by data from the Turkish Steel Producers Association (TCUD).

In July of this year, steel exports decreased by 8.5% compared to July 2024, to 1.1 million tons. Export revenue decreased by 10.9% y/y, to $800.2 million.

Imports of steel products increased by 17.8% compared to January-July of the previous year, to 11.1 million tons, and in July, by 55.1% y/y, to 1.8 million tons. Import costs reached $7.8 billion (+3.7% y/y) in the first seven months and $1.3 billion (+30.8% y/y) in July. The export-to-import coverage ratio decreased from 75.8% to 76.7%.

Domestic consumption of finished steel products decreased by 1.7% y/y to 22.2 million tons in January-July, but increased by 31.1% y/y – to 3.6 million tons in July. Steel production in the first seven months decreased by 0.9% y/y to 21.5 million tons. In July, Turkish steelmakers produced 3.2 million tons of steel (+4.2% y/y).

As GMK Center reported earlier, Turkey increased its steel exports by 27.6% y/y – to 13.4 million tons in 2024. Steel imports in 2024 amounted to 17.4 million tons (+1.7% y/y). Rolled steel consumption in the country grew by only 0.6% y/y last year, to 38.3 million tons.