Turkish steel industry aims to export 23 million mt in 2021

Friday, 15 January 2021 14:25:35 (GMT+3)   |   Istanbul
       

According to a statement by the Turkish Steel Exporters’ Association (CIB), the Turkish steel industry aims to achieve steel exports of 23 million mt in 2021, increasing by 10 percent compared to last year, with the value of the exports to increase by 15 percent to approximately $15 billion. “We expect 2021 to be good for the steel industry. In the new period, we will increase our export figures even more and diversify our export markets. Due to the quotas implemented by Europe, the import and trade policy duties implemented by the US, there may not be an increase in exports to these destinations in 2021. However, we forecast that we will increase our exports to the Far East, South America and Africa compared to the previous year. We will focus especially on the Far East, South America and West Africa,” Adnan Aslan, chairman of the CIB, said.

Turkey’s steel exports to 197 countries in 2020 totaled 20.6 million mt, down by 2.8 percent, while in terms of value they amounted to $12.7 billion, decreasing by 8.2 percent, both year on year. The contraction in the European and North American markets in the given year was balanced by exports to the Far East and South America. Israel, Italy, Yemen, Spain, Iraq, Romania, Egypt, the US, Morocco and Hong Kong were among the top countries to which Turkey exported in 2020.

Stating that they have not been so fast in exports to the African markets before, their speed has increased with the withdrawal of China from these markets, Adnan Aslan said, adding, “We have dominated these markets as China has not exported to Africa, the Far East and South America for three years. Compared to its competitors, Turkey’s recognition and reliability in these markets are rising steadily. We will continue to exist in these markets.”

The CIB chairman stated that the trade policy measures implemented by the US and the 25 percent import duty within the scope of Section 232 did not affect the Turkish steel industry significantly. He said that the US decreased its imports from not only from Turkey but also from Europe due to lower local consumption amid the pandemic. He also noted that the US increased its profit margins in the local market due to the import duties that Trump imposed three years ago, and that the US will make new investments in 2021. Accordingly, the US may not import in 2021, he noted.

The Turkish Steel Exporters’ Association stated that it could not perform most of the activities it planned in 2020 due to the pandemic, but added that it will accelerate its activities with the weakening impact of the pandemic and the roll-out of the vaccine. “In order to defend our industry, we will continue to work regarding trade policy measures and try to protect our companies from unfair practices, Adnan Aslan said.


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