9,612.84 TRY BIST 100 BIST 100
37.83 USD USD USD
5.24 CNY CNY CNY
40.78 EUR EUR EUR
0.13 CNY CNY/EUR CNY/EUR
45.53 TRY Interest Interest
73.74 USD Fossil Oil Fossil Oil
34.28 USD Silver Silver
5.09 USD Copper Copper
103.77 USD Iron Ore Iron Ore
356.00 USD Shipbreaking Scrap Shipbreaking Scrap
3,761.14 TRY Gold (gr) Gold (gr)

Türkish steel sector forecasts growth in 2024 despite challenges

The Türkish Steel Producers Association foresees a rebound in the country's steel industry in 2024.

Türkish steel sector forecasts growth in 2024 despite challenges

Veysel Yayan, the General Secretary of the Türkish Steel Producers Association (TÇÜD), anticipates an increase in capacity utilization rates in the steel industry in 2024 due to various measures. Despite a 13% decline in production in 2022 and a continued decrease in the first half of the current year, there has been a gradual recovery in the second half of 2023.

Yayan attributes this recovery to factors such as new capacities coming online, reduced energy costs, and the resumption of production in the aftermath of an earthquake in southern Türkiye.

Despite a 6.1% decrease in raw steel production in the first 11 months of the year and an 18.8% increase in imports, Yayan expects significant growth in the sector in 2024. He emphasizes the importance of supporting new investments with domestic consumption to achieve a 75% capacity utilization level and anticipates positive contributions to Türkiye's current account balance by surpassing previous production and export levels.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Trump’s Tariffs Took a Toll on American Manufacturers’ Finances

Friday, March 28, 2025

ArcelorMittal Industeel and EDF Renewables announced the construction of a solar plant in France

Friday, March 28, 2025

IFC's EUR 250 million financing support to Aperam for decarbonization in steel production

Wednesday, March 26, 2025

Kuwait Gains Access to Global Debt Markets After Law Amendment

Friday, March 28, 2025

China's international trade volume increased by 14% in February

Friday, March 28, 2025
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now