Başak Tav: Turkey’s local flat steel prices below its export prices, unlike many countries

Speaking at the 7th SteelOrbis Turkish Steel Market Conference held in Istanbul on November 16, Turkish integrated steelmaker Erdemir's marketing director Başak Tav said that flat steel prices in Turkey are following the global flat steel trends very closely. She went on to tell conference attendees that, unlike other major countries, including China, Japan, Ukraine and Russia, domestic flat steel prices in Turkey are generally lower than Turkey's flat steel export offer prices.
 
Stating that Turkey is surrounded by major steel production areas, such as Europe and the CIS, where oversupply can be clearly seen, Ms. Tav stated that this puts significant pressure on Turkish steel producers, especially given that Turkey is still a net flat steel importer, with the rate of imports in its total flat steel consumption reaching 54 percent, i.e., about 6.5 million mt, despite the country's recently increased flat steel production capacity. Related to the oversupply problem in the global steel industry, Erdemir's marketing director gave examples of increased attempts by certain countries to enact protective measures.