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Türkiye’s consumption of steel products increased by 18.5% in January-September 2023

In September 2023, Turkey’s consumption of steel products increased by 30.3% compared to September 2022, reaching 2.8 million tons, according to data from the Turkish Steel Producers Association (TDCU).

Steel production in Turkey in September reached 2.89 million tons, an increase of 8.4% compared to September 2022. Steel product exports for the month decreased by 23.35% year-on-year, while imports increased by 10.9% year-on-year.

From January to September 2023, Turkey consumed 28.9 million tons of steel, which is 18.5% more than the same period last year. Steel production in this period reached 24.5 million tons, an increase of 10.1% year on year.

Turkey’s steel exports also decreased in the first nine months of this year by 39.7% on an annual basis, and imports increased by 53.4% on an annual basis.

Wire rod imports to Turkey in the January-September period rose by 115.3% year-on-year as imports rose significantly from Egypt, the Russian Federation, Malaysia, South Korea and China. At the same time, exports continued to decline, as the surplus of imported products in the local market negatively affects steel strip.

Earlier, Turkey began an investigation into preventive measures against the import of wire rod, as Turkey imported 529.86 thousand tons of wire rod in the period from January to August 2023, including 122.25 thousand tons from Egypt, 113.2 thousand tons from Malaysia, and 108.6 thousand tons. tons of the Russian Federation.

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