Turkish steel demand is expected to rise by 4.8 percent to 36 million metric tons in the current year and to increase by a further 4.2 percent to 37.5 million metric tons in 2017, as announced at the 50th annual worldsteel meeting in Dubai on October 11 within the framework of worldsteel’s publication of its short-range outlook for global steel demand. Commenting on the predictions for
Turkey, T. V. Narendran, chairman of the worldsteel economics committee and managing director of Indian steel producer Tata Steel, stated that moves in
Turkey to stimulate household spending, including increases in the minimum wage, are expected to have a positive impact on steel demand in the country. On the other hand, negative factors include regional tensions, terrorist attacks and the recent coup attempt, though the economics committee chairman said he did not expect the attempted coup to have a long-term impact on economic growth and steel demand.