Fuat Tosyalı, Chairman of the Board of Directors of Tosyalı Holding, took part in the opening speech of ANKIROS 16th International Iron-Steel, Casting, Non-Ferrous Metallurgy Technologies, Machinery and Products Specialised Fair, which will take place in Istanbul between 19-21 September.
Tosyalı stated that a positive momentum was achieved in 2024 after the quake-related slowdown in 2023, evaluating the developments in the steel industry. Stating that the sector increased its production capacity to 60 million tonnes in 2023 with an increase of more than 10%, Tosyalı announced that an increase of 14.9% in production and 45.3% in exports was achieved in 2024.
However, Tosyalı stated that domestic steel product consumption declined by 6.3% due to the low impact of economic stabilisation measures, and underlined that the decline in imports of steel products was not at the expected level. He stated that the protection measures introduced especially for wire rod imports reduced imports by 51.3% in the first seven months of the year, while exports increased by 95.4% and significantly supported domestic production.
Tosyalı stated that it is encouraging that the current account balance of the Turkish economy has given a surplus for two consecutive months, and underlined that the domestic supply strategy has had a great impact. He stated that they aim to increase the capacity utilisation rate to 80% with the additional measures to be taken in the coming months.
Tosyalı said that he appreciated the government's support for the efforts to reduce carbon emissions in the steel sector and underlined that these developments are of vital importance for the Turkish industrial economy. He added that they aim to create a stronger economic structure by collecting the fruits of economic policies in the coming period.
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