In 2022, steel exports decreased by 17.7% year-on-year to 19.6 million tonnes, and production decreased by 12.9% year-on-year to 35.1 million tonnes.
In the first six months of 2022, Turkey’s steel exports showed an upward trend. However, at the end of last year, it fell due to the impact of the war in Ukraine, inflation, high-energy prices and the expectation of a global recession.
The country’s export rankings in 2022 fell to the fourth position, compared to the third position in the previous year.
According to the head of the Turkish Steel Exporters Association “CIB” Adnan Aslan, if the energy crisis continues and the demand slowdown in the main markets in Turkey (Europe and the USA), the steel producers in the country in 2023 will focus on maintaining the current level of production rather than increasing it.
The association expects the decline in exports to continue until June 2023. The global steel industry will start to recover in the second half of 2023 due to the decline in inflation and the expected increase in global demand for steel and investments in energy.
The Association also believes that actions should be taken against Turkey’s cheap steel imports as China, the Russian Association, India and Iran continue to sell steel products in the country at cheap prices.
According to the union, nearly half of Turkey’s steel consumption is provided by imports. Local steelmakers need investments not only to increase capacity but also to restore the production base.
