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Iron and Steel industry meets 11.1% of Turkey's total export value

Companies operating in the iron and steel industry have been experiencing a decline recently due to the contraction in global demand and the hikes in energy prices. On the other hand, the ferrous and non-ferrous metals and steel sectors accounted for 11 percent of Turkey's export values.

Iron and Steel industry meets 11.1% of Turkey's total export value

Regarding the sectors that have reached a total export value of 2.6 billion dollars, ADMİB Chairman of the Board Fuat Tosyalı said, “However, as of April, the 20 percent discount applied to the natural gas used in the industry and the 15 percent discount applied to the electricity will have an effect. In the second half of the year, I think we will perform more successfully in terms of both quantity and value.”

Despite the fact that 11,1% of Turkey's exports were achieved through these two sectors, both sectors followed a downward trend. While the Turkish ferrous and non-ferrous metals sector realized exports worth 1.2 billion dollars with a decrease of 15.1% in March, exports of 1.4 billion dollars were achieved in the steel sector with a decrease of 37.9%. Ferrous and non-ferrous metals exports accounted for 5.2 percent of Turkey's total exports, while the steel industry had a 5.9 percent share.

The Mediterranean Ferrous and Non-Ferrous Metals Exporters' Association (ADMİB) realized an export of 77.4 million dollars in March with a decrease of 17.7 percent in the ferrous and non-ferrous metals sector compared to the same period of the previous year. Steel exports in this month, on the other hand, decreased by 39.2 percent to 146.7 million dollars. These rates are expected to increase in the second half of the year.

AdMİB Chairman of the Board of Directors Fuat Tosyalı stated that the declines in the iron and steel industry continue due to the long-term contraction in global demand as well as high energy prices.

“The first half of the year looks like it will continue at this level. We are also behind last year in terms of quantity. While we filled the quotas given to us by the EU in the first week last year, we could not complete them for some products this year. Due to the increasing energy prices since March last year, we remained expensive compared to our competitors. However, as of April, 20 percent discounts applied to natural gas used in industry and 15 percent discounts applied to electricity will show their effect. As of June, as the industrialists of our country, we will be able to be more competitive in energy costs. In the second half of the year, I think we will perform more successfully in terms of both quantity and value. The TRNC market is growing rapidly."

In March, Germany was the most successful country in terms of iron and steel sector among the countries to which Turkey exports, with 254.3 million dollars. This country was followed by Italy with 177.8 million dollars and Romania with 126.8 million dollars. In ADMIB's exports, Romania ranked first with 21.1 million dollars. This country was followed by Germany with 17.4 million dollars and Iraq with 12.7 million dollars. With an increase of 71 percent, TRNC stood out as ADMIB's 5th most successful market. 1.5 million tons of products were exported

In March, 1.5 million tons of products were exported from Turkey's iron and non-ferrous metals-steel sectors, with an export of more than 2.6 billion dollars. When analyzed on a product basis; It was seen that the other group of iron and steel took the first place with 287.5 million dollars. This product was followed by construction equipment with $232.6 million and iron and steel pipes with $222.6 million.

ADMİB, on the other hand, made 180.4 thousand tons of sales in March and realized an export of 223.8 million dollars. When analyzed according to product groups; iron and steel pipes took the first place with 59.2 million dollars of exports. This product was followed by flat veneer with $23.9 million and other items of base metal furniture with $22.2 million.

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