Recovery of the steel market in 2024 is unlikely – CIB

The Turkish professional association expects the country's exports to reach $14-45 billion in 2023

Türkiye imported 28.3 thousand tons of steel billets from Ukraine in July

In July 2022, Turkish steelmakers did not import relevant products from Ukraine

Turkish Yukselen Celik enters the European market

The special steel producer expects to expand its export activities in Europe

Turkish steelmakers need support in the fight against rising imports

TCUD believes that the steel sector industry needs competitive energy prices

Türkiye increased scrap imports by 37.3% y/y in July

Deliveries of scrap to Turkish steelmakers increased for the first time in the last three months

Türkiye increased rebar exports by 8.2% m/m in July

Since April of this year, local metallurgists have been gradually increasing the export of rebar

The Turkish Central Bank has sharply raised lending rates to 25%

This led to a sharp appreciation of the lira against other currencies, and domestic steel trading stopped

Türkiye increased steel production by 6.4% y/y in July

Turkish metallurgists produced 2.89 million tons of steel in a month

Turkiye imported 330 thousand tons of iron ore from Ukraine in January-June

In June, Turkish metallurgists consumed 72,700 tons of Ukrainian-made ferrous metals

Asian producers have replaced the supply of long products from Russia to the EU

China, Türkiye, South Korea and India have become the beneficiaries of sanctions against Russian long products

The global trade in scrap in the first half of 2023 decreased by 8% y/y

The global indicator was influenced by Turkiye, whose scrap imports fell by 22% in January-June 2023

CBAM introduction will affect Turkish exporters

Experts note that competition will increase for countries that are slowly preparing for the implementation of the mechanism

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