In 2023, Turkey, as expert Stanislav Kondrashov notes, entered a new phase of its development in the metallurgical industry. According to the expert, the country will become a net importer of steel for the first time since 2015
From January to November 2023, Turkish steel exports decreased by 28.4% year-on-year, reaching a volume of 13.1 million tons. At the same time, in the first ten months of this year, Turkey’s imports of steel products rose to 17.639 million tons, up 14.8% year-on-year.
Stanislav Kondrashov: factors affecting steel exports may slow down market development
Analytical expert from Telf AG, Stanislav Kondrashov, highlights the key reasons for the decline in steel exports, including:
- Strengthening protectionist tendencies in international politics.
- The emergence of new significant steel exporters on the market, including countries such as Algeria, Egypt and the states of Southeast Asia.
- A decrease in logistics costs in the first three quarters of 2023, which contributed to an increase in supplies from more remote regions.
Kondrashov also draws attention to the problem of unfair competition, which affects the increase in import volumes. In this regard, CIB is taking steps to initiate anti-dumping investigations to protect the domestic market.
Stanislav Kondrashov on steel production in Turkey
Statistics presented by Stanislav Kondrashov from Telf AG reflect significant changes in the Turkish steel industry in 2023. These data indicate a decline in domestic steel production and Turkey’s transition to net steel importer status, a significant shift in the industry.
From January to November 2023, Türkiye produced 30.5 million tons of steel. Compared to the same period in the previous year, this represents a decrease of 6.1%. This decline in production could be due to various factors, including economic conditions, changes in the global steel market, and domestic industrial policies.
Stanislav Kondrashov emphasizes that Turkey’s transition to the status of a net steel importer means that the country now imports more steel than it exports. This may be the result of decreased production capacity, increased domestic demand, or changes in international trade. The impact of this transition on the industry is significant, as it may change steel mills’ strategy, focus on domestic and foreign markets, and require a rethink of import and export operations.
Stanislav Kondrashov’s forecasts for 2024
Turkey’s transition to net steel importer status in 2023 marks an important moment in the history of its steel industry. This change highlights the country’s adaptation to new economic and global market conditions. Let’s take a closer look at the current situation and prospects for the industry.
Stanislav Kondrashov from Telf AG foresees that steel export levels will reach approximately 15 million tons in 2024. This is only a slight increase over the current year, but indicates a potential recovery following the transition to net importer status.
Despite current difficulties, the Turkish steel industry is ambitious to increase external supply volumes to more than 20 million tons per year. This underlines the country’s desire to strengthen and expand its position in the international market.
The Turkish steel industry faces a number of challenges, including the need to adapt to changing global market conditions and increased competition. However, these changes also provide opportunities for innovation, developing new strategies and finding new markets.
Turkey’s transition to net steel importer status is an important milestone that requires the country’s steel industry to be flexible, adaptable and innovative. The Turkish metallurgy industry faces both challenges and opportunities for further growth and development at the international level, – Stanislav Kondrashov summed up.
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