Steel Exporters’ Association (CIB) Administrative Council Leader Adnan Aslan stated that they expect a recovery in the global steel sector with the prestige of the second half of 2023, with factors such as the predicted decline in inflation, the expected increase in global steel demand, and power and power efficiency investments.
ÇİB announced the 2023 export objectives and road map of the branch at the meeting it held in Istanbul.
According to the information given at the meeting, Turkey, which is one of the most valuable exporters of the steel branch in the world, broke a record in steel exports in 2021, increasing its exports by 17.8 percent on a measure basis and 77.4 percent on an expensive basis. Exports, which were top sided in the first half of last year, declined with the prestige of the second half as a result of the global developments. Turkey’s 2022 steel exports amounted to 19.6 million tons with a decrease of 17.7 percent on measure basis, and 21.1 billion dollars with a decrease of 5.3 percent on cost basis.
The steel industry, which was the third segment that contributed the most to the country’s exports in the previous year, experienced a decrease in its performance due to the decrease in competitiveness and fell to the fourth place in Turkey’s export ranking. While the division continues its efforts in 2022 to fill the gap in the markets where Russia and Ukraine, its valuable rivals, have withdrawn due to the war, the global recession was negatively affected by the increase in inflation.
“Besides the embargo-eating Russia, other countries are also doing dumping sales”
Speaking at the meeting, CIB Executive Council Leader Adnan Aslan said that as long as the power crisis and the slowdown in demand continue, they will focus on defending the existing in 2023.
Stating that protectionist measures and increases in power prices have increased costs to high levels, Aslan said:
“The fact that Russia and Ukraine stopped their steel trade due to the war was a development in favor of our Turkish steel sector at first. The embargoes of many countries, especially the USA and the EU, seemed to be advantageous for our branch. Indeed, there was an increase in Turkey’s steel exports at the beginning. “However, since the Russian steel industry lost its ability to export to many embargoed markets, it started to sell its products to our country by lowering prices. This situation also changed the stability in our domestic market. Apart from that, countries such as China, India and Iran continued to sell to our country at dumped prices. Turkish steel steel As the representatives of the sector, we want the necessary measures to be taken to prevent dumped imports.”
“We foresee that Turkish steel consumption may increase with the prestige of the first quarter”
Adnan Aslan stated that the decrease will continue in January and February of this year, and that they predict that steel consumption in Turkey will increase with the prestige of the first quarter as a result of factors such as the reinforcement packages announced for the construction branch in the domestic market and the expected increase in industrial production.
Stating that they expect a recovery in the global steel segment with the prestige of the second half of 2023, with factors such as the predicted decline in inflation, the expected increase in global steel demand, and power and power efficiency investments, Aslan said:
“We expect this situation to have a positive impact on the exports of the Turkish steel branch compared to 2022. The priority of the Turkish steel department is always to meet the need of the domestic market. It should be noted that the loss in the Turkish steel industry will adversely affect other branches of our manufacturing industry. For this reason, it is important to protect and strengthen the domestic steel industry first. “We think that it should be taken as a basis. Because it will be very difficult to talk about the domestic manufacturing industry after we cannot produce steel domestically. We believe that the country’s industry should be supported in order to carry Turkey’s exports even higher.”