Commenting on the domestic steel industry data for the first ten months of the current year, the Turkish Steel Producers’ Association (TCUD) has warned that, despite the recent favorable trends in Turkey’s steel exports and imports, production and consumption of steel in the country have been decreasing significantly.
According to the TCUD, the Turkish steel industry’s recent success in exportation in the face of the protectionist measures implemented by the US and the EU largely stemmed from the advantage offered by exchange rates and by non-rigid trade policies which enable Turkish suppliers to seek other markets worldwide. However, considering the decining margins between input costs and finished product prices caused by the pressure by neigboring countries and China on the market, Turkish production may even decrease, resulting in slowing export rates and rising imports. In order to prevent this scenario, the TCUD stated that policies prioritizing supplies of input materials to Turkey are essential.