According to a statement released by the Turkish Steel Producers’ Association (TCUD), in March this year crude steel production in Turkey decreased by 2.8 percent year on year to 3.13 million mt, while in the first three months production declined by 3.4 percent year on year to 9.25 million mt.
In the given month, finished steel consumption in Turkey fell by 23.2 percent year on year to 2.6 million mt, while in the January-March period the country’s finished steel consumption decreased by 7.3 percent year on year to 9.06 million mt.
In March, Turkey’s steel exports increased by 31.3 percent to 1.48 million mt, while the value of these exports rose by 18.6 percent to $1 billion, year on year. In the first quarter, the country’s steel exports rose by 18.5 percent to 3.79 million mt, while the value of these exports increased by 8.4 percent to $2.55 billion, both year on year. Flat and long product exports in the January-March period amounted to 1.57 million mt and 2.06 million mt, respectively, with increases of 22.6 percent and 11.2 percent year on year, while semi-finished product exports amounted to 152,533 mt.
In the third month of the current year, Turkey’s steel imports decreased by 23.6 percent to 1.17 million mt, while the value of these imports moved down by 24.5 percent to $885.5 million, both year on year. In the January-March period, the country’s steel imports increased by 4.6 percent to 4.23 million mt, while the value of these imports moved down by 4.2 percent to $3.02 billion, both year on year. Looking at the imported products, flat and long product imports in the first three months amounted to 2.06 million mt and 359,728 mt, respectively, with a decrease of 0.7 percent and an increase of 10.4 percent year on year, while semi-finished product imports amounted to 1.81 million mt.
In the first three months, Turkey’s steel export to import ratio increased to 84.56 percent, from 74.74 percent recorded in the same period of the previous year.
According to TCUD, Turkey’s exports to the US came to a near standstill in the first quarter of the year at 38,000 mt. To offset the negative effects of this situation, the Turkish steel industry started to focus on the North African and Middle Eastern markets with the aim of entering new markets. Meanwhile, the restrictions on scrap trade have become a global trend as seen with the inclusion of scrap restrictions in the EU’s Steel and Metal Action Plan. Scrap demand is expected to increase by 20 percent in 2030 due to decarbonization efforts. Considering these restrictions, Turkey, which is the largest scrap importer with a 20 percent share in the global market, should meet its raw material needs from alternative markets and inputs, as well as implement measures to increase local scrap production. The TCUD stated that, if Turkey does not implement policies similar to those implemented by the EU and the US, the Turkish steel industry will continue to face structural threats. However, considering that Turkey’s imports will continue to increase in 2025 and that tight economic policies will delay growth in consumption, it is thought that the optimistic expectations at the beginning of the year will become more cautious due to recent developments.
