Turkish steel exports suffers from the devaluation of the state currency

Economic instability has recently been characteristic of Turkey, has led to severe losses in stock markets, which over the past week affected the price of steel prices. While the economy of the United States and the European Union has obvious signs of belated recovery.

The US Federal Reserve System after cutting bonds to 75 billion US dollars in December, which is expected to decrease further to 65 billion US dollars after the next review of the federal reserve system, which inevitably affects the world economy

In the context of the fall of stock indices around the world and the fall of currencies in countries with a developing economy, the Turkish lyre has lost its price in price, as a result of which exports have become cheaper. In addition, Türkiye is experiencing serious political unrest due to the serious accusations of the government of corruption.

The price of scrap metal dropped by 10-15 dollars per ton in the conditions of the outgoing winter and improving accessibility, thereby reducing the cost of products ready. Despite the fact that the demand for construction metal in the Middle East increased in the winter, they prefer the products of the factories of India, China, Japan and Korea, which offer it at very favorable prices, thereby reducing the levels of supply of Turkish steel.

At the same time, Turkey’s export in 2013 retained leading positions among other manufacturers in the export of reinforcement, which the country plans to increase in 2014.