At the World Steel Association's (worldsteel) 45th annual meeting held in Paris on October 12, Daniel Novegil, chairman of the worldsteel economics committee and CEO of Luxembourg-headquartered steelmaker Ternium, touched upon the anticipated steel demand recovery for 2011 and 2012 in Turkey.
Mr. Novegil forecasts that Turkey's apparent steel use will increase by 12.4 percent in 2011 and 6.5 percent in 2012, both year-on-year, and thus Turkey's steel consumption will increase by 90 percent in 2012 as compared to the pre-crisis levels of 2007.
According to data from the Turkish Iron and Steel Producers' Association (DCUD), Turkey's steel consumption was 23.77 million mt back in 2007. Steel consumption levels in Turkey increased to 23.57 million mt in 2010 following the significant decreases recorded in 2008 and 2009.