In 2022, the share of steel exports in Turkey’s total exports is 13.9% with a value of $35.4 billion.
In particular, the share of ferrous and non-ferrous metals in total exports was 6.3%, and the steel sector was 9.3%. Overall, the country’s exports in monetary terms rose by 12.9% year-on-year – to $254.2 billion last year.
Fuat Tosyali, head of the Association of Ferrous and Non-Ferrous Metal Exporters in the Mediterranean (ADMİB), noted that the Turkish steel industry started 2022 with good momentum.
The war in Ukraine, the strengthening of protectionist measures and the rise in energy prices have affected industry activities.
The energy surge impacted was on the competitiveness of Turkish steelmakers, and export levels remained below the target levels.
ADMİB President also emphasized the importance of using renewable energy. In particular, research on the use of hydrogen in the steel industry will be carried out in Turkey in 2023.
At the end of 2022, Turkey announced a 16% discount on electricity for industrial consumers and lowered the maximum price of electricity in the free market from 4.8 thousand lira/MWh to 4.2 thousand lira/MWh. It was expected that electricity costs for industrial facilities that consume it at market prices would decrease by 10-15%.
From January to November 2022, steel companies in Turkey produced 32.47 million tonnes of steel, which is 12.3% less than the same period in 2021.
In November 2022, steel production in Turkey decreased by 34.3% year on year.