In February 2023, Turkey’s steel production decreased by 19.2% compared to January 2023, reaching 2.104 million tonnes, and it decreased by 28.9% compared to February 2022.

From January to February 2023, production reached 4.709 million tonnes, a decrease of 23.1% compared to the same period in 2022.

From March 1, 2023, the Turkish Oil Pipeline Company, BOTAŞ, reduced wholesale prices on natural gas for major industrial enterprises by 20.95% to 26.12% compared to October 2022.

The price cut would ease the burden on Turkish steel producers in some way, who are less competitive due to higher energy costs than their EU rivals are.

In addition, at the end of 2022, the Turkish energy market regulator announced a 16% reduction in electricity prices for industrial consumers.

Such measures were supposed to facilitate the work of the Turkish steel industry. However, the earthquakes that occurred in February 2023 destabilized the country’s industry, destroyed logistics and claimed many lives.

As a result, part of the country’s steel capacities was suspended or reduced, which affected Turkish steelmakers’ production results.