Turkiye moves closer to European leadership in steel production

Turkiye's steel finished product consumption for the 2023 fiscal year reached 2.8 million tons in August, up 19.5 percent year-on-year, and 26.1 million tons in the January-August 2023 period, up 17.4 percent. With the actual production, expectations are that Turkiye will take the leadership of Europe's steel production from Germany in 2024.

Evren Akar, owner of NEA METAL, said, "Iron and steel products rank 10th in the ranking of the products subject to the most exports and imports in world trade. China, which is by far the leader in steel production, is at the top of the world in terms of both exports and imports. Turkiye ranks 5th in terms of value in world steel exports with 22.4 billion dollars."

Currently, there are 26 electric arc furnace (EAF), 11 induction furnace and 3 basic oxygen furnace steel mills in Turkiye.