High production costs in Turkey make the competition difficult in the European market

Domestic hot rolled coil (HRC) prices in Europe have increased since the beginning of December. Despite this, Turkish sellers still have difficulties in exporting their steel products to Europe.

Low scrap availability, less slab purchase option and higher energy prices have increased Turkey's production costs. India will remain as Europe's main steel import source in the short term.

Turkey's HRC accounted for 14% of European steel imports in the first ten months of this year. From October to mid-December, Turkey only exported 150,000 tons of HRC to the EU.