The Turkish iron and steel sector has exceeded its growth target of 10 percent for 2007, Turkish media sources have reported.
The sector is expected to indicate a growth of 11 percent, achieving production of 26 million mt up to the end of 2007. This means that the sector will exceed its 2007 target of 10 percent, despite the uncertainty and fluctuations in both the domestic and international markets.
Turkey's iron and steel product exports for 2007 are expected to reach 14 million mt, worth a total of $8.5 billion. Looking ahead to 2008, it is estimated that the sector will increase its production by 12 percent year on year to 29 million mt.