Türkiye

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Turkish steelmakers do not expect demand to improve after elections

The steel market has slowed down, buyers enter into transactions only when they need to replenish stocks

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Turkiye sharply increased the import of the billet in the first quarter

In January-March 2023, the country imported 959,000 tons of this product

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Turkiye reduced steel exports by 53% y/y in March

In the first quarter, Turkish steelmakers reduced the shipment of products for export by 48.3%

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Turkiye has introduced increased import duties on flat rolled steel since May 1

Import duties on rolled steel increased by an average of 7%

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Turkiye left gas prices for industry unchanged in May

Since the beginning of 2023, the cost of natural gas in the country has decreased three times, reaching a 52.4-63.6% decrease by October 2022

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Scrap prices continue to fall in most global markets

Falling steel prices make it impossible to buy scrap at current prices

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Turkish producers will initiate an investigation into Chinese HRC imports

Since the beginning of 2023, the volume of imports of Chinese HRC to the country has increased sharply

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Turkiye’s steel sector will recover in the coming months

The level of capacity utilization in the industry in January-March 2023 fell to 53%

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Global scrap prices are increasing losses amid weak demand

Steelmakers are refusing to buy scrap because they are unsure of future steel sales

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Turkiye’s Isdemir reached production levels before the earthquake

Insurance examinations are ongoing at the facilities of the steel plant

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Turkiye increased steel production by 28.9% m/m in March

During the month, Turkish steelmakers produced 2.71 million tons of steel

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