Recalling that at the last few IREPAS meetings, participants discussed the adverse circumstances affecting the global long steel market, the IREPAS Chairman noted that the market has not yet seen significant improvement. Noting that protectionist measures continue to have a significant impact on the market, Mr. Cebecioglu said that some U.
S. tariffs are being challenged by the courts of appeal, leading to more uncertainty than before.
Stating that the global steel business is facing significant challenges in these unfavorable market conditions of low demand and fierce competition with China, and considering that exports from Asia are putting pressure on prices, the IREPAS chairman stated that despite these challenges, the steel industry has always been successful in his response to the difficulties.
Regarding China, he said that there has been a slight increase in prices in the Chinese domestic market recently, which has had a positive impact, although future developments in the country will need to be monitored.
