In 2022, the effects of the war in Ukraine led to a shortage of certain types of steel products, which allowed Turkish steel products to increase their presence in the market.
Between 2021 and 2023, Türkiye increased its supply of hot rolled steel, cold rolled steel, shaped steel, pipes, coated rolled products, rolled alloy steel products in the Ukrainian market. Significant increases of 48 times in hot rolled steel products, 7.5 times in cold rolled steel products and 2 times in shaped steel products were observed.
In the Ukrainian steel sector, the decline in deliveries to the Turkish market between 2021 and 2023 was noteworthy. Iron ore deliveries fell from 1.2 million tons in 2021 to 499 thousand tons in January-November 2023. In the same period, hot-rolled steel fell from 1.17 million to 9.5 tons, scrap deliveries from 877 thousand tons to 73 thousand tons, and iron casting deliveries from 295 thousand tons to 109 thousand tons.
The Ministry of Economy predicted that Ukraine and Türkiye will soon ratify the Free Trade Agreement (FTA), signed in 2022, and it will enter into force. It was also emphasized that the balance in trade in goods has not changed in favor of Ukraine since the start of the war.
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