Türkiye - Latest news GMK Center

Scrap quotations in Turkiye for the week of January 2-9, 2023, rose by $13/t amid steady demand for finished steel products

In January-November 2022, the import of raw materials decreased by 12.8% year-on-year

The main reasons for the decline in steel production are low demand and high energy costs

The energy market regulatory body also reduced the maximum price of electricity on the free market to 4.2 thousand lira/MWh

Loads of steel mills have decreased due to falling global demand for steel and rising electricity costs

In the week of December 19-26, 2022, scrap quotations in Turkiye were adjusted by $1/t – to $386-387/t

The complex will have a capacity of 4 million tons per year

In the week of December 12-19, 2022, scrap quotations in Turkiye increased by $5/t – to $382-388/t

In January-October 2022, the import of Ukrainian iron ore by Turkiye decreased by 39.1%

In January-October 2022, deliveries of Ukrainian pig iron to Turkish steelmakers decreased by 43.9% year-on-year

The company's investment in the new service center will amount to $7-8 million

Exporters from India, Turkiye and the Russian Federation are more active in the MENA market