Tuncay Sergen: Further drop in iron ore prices to give advantage to integrated mills

Monday, 19 November 2012 18:05:25 (GMT+3)   |   Istanbul
       

At the 7th SteelOrbis Turkish Steel Market Conference, held in Istanbul on November 16, Tuncay Sergen, chairman of Turkey's Association of Flat Steel Importers and Manufacturers (YISAD), commented on the current situation in steel trading and steel manufacturing and on expectations for 2013. He said that European producers seeking to reduce expenses due to continuing economic crisis are resorting to production cuts and layoffs.
 
Mr. Sergen underlined that domestic demand is Turkey's biggest opportunity, stating that the outlook for the domestic infrastructure and construction industries is positive and that Turkish producers are able to respond to market needs at once thanks to their dynamism. He added that another opportunity for Turkey is its geographical position in a business environment where lower margins make shipments to distant locations more difficult.
 
Mr. Sergen foresees a further decline in iron ore prices, anticipating that in 2013 this will give an advantage to integrated steelmakers over mills using electric arc furnaces.

Similar articles

Turkish steel industry’s carbon emissions can be cut by 99% by 2053

19 Mar | Steel News

Veysel Yayan: Turkey’s exports expected to increase in 2024, crude steel output may exceed 40.4 million mt

05 Mar | Steel News

Ayhan Uçar: Scrap will be more valuable during green transition, Turkey may face scrap supply issues

05 Mar | Steel News

Turkish steelmakers remain under strong pressure to export

29 Nov | Steel News

Tayfun Iseri: Market concerned over possible further regionalization

28 Nov | Steel News

Steel mills in Turkey reshaping billet imports, bigger problems may be seen in scrap in mid-term

15 Dec | Steel News

Turkey’s steel industry faces declining competitiveness amid higher costs and shrinking exports

15 Dec | Steel News

Barış Çiftçi: Global steel industry on edge of transition process 

30 Nov | Steel News

Erhan Özdemir: Turkey will continue to have a good position in global steel market despite regionalization

14 Jun | Steel News

Veysel Yayan: Exports support growth of Turkey’s steel production

01 Dec | Steel News