According to data from the Turkey-based Mediterranean Ferrous and Non-Ferrous Metals Exporters Association (ADMİB), in July of this year Turkey's ferrous and non-ferrous metals sector exports increased by 8.0 percent year on year to $1.2 billion, while steel sector exports decreased by 3.2 percent year on year to $1.4 billion. On the other hand, in the first seven months of the year, exports of the ferrous and non-ferrous metals sector increased by 6.7 percent year on year to $7.6 billion, while exports of the steel sector increased by 3.1 percent year on year to $9.6 billion.
In July, Germany was the leading market for Turkey's iron and steel exports. Germany was followed by Italy, the US, the UK, and Romania. Furthermore, exports to Morocco increased by 119 percent in the same month, while exports to the UK recorded a 17 percent increase, year on year.
Meanwhile, in July Turkish Mediterranean region-based steel producers' ferrous and non-ferrous metal exports increased by 18 percent annually to $78 million, while steel exports decreased by 26 percent to $190 million. In the January-July period of the year, the producers’ ferrous and non-ferrous metal exports increased by 9.1 percent to $465 million, while steel exports decreased by 4.8 percent to $1.2 billion.
ADMIB president Fuat Tosyalı stated that, although exports remain stable, demand in the global market continues to shrink and prices continue to fall, while in the domestic market price pressure, high inflation and high interest rates will keep profitability low. Mr. Tosyalı emphasized the importance of reducing dumping, saying, “State-subsidized dumped products entering our country from the Far East and China will harm our domestic industry and, in the medium to long term, our exports. It is essential that the measures taken by the relevant ministries in this regard are tightened.” He also stated that steps must be taken to protect the gains of the Turkish steel sector against the risk of China strengthening its influence in Europe, which meets 20 percent of its steel imports from Turkey. According to Tosyalı, the Turkish steel sector needs to maintain its competitiveness, target new markets, and increase product diversity.