Turkey has the ability to increase steel exports

Improved markets in Europe, the United States and the Far East have led to an increase in Turkish steel exports. The relatively low prices for scrap metal will especially help to improve its competitiveness.

According to the Association of Turkish Steel Exporters, the situation in the metallurgical industry will depend on the revival of public investment and the development of urban projects. The growth trend also depends on sectors such as automotive, home appliances and housing.

The rebirth in the markets of Europe, the United States and the Far East, including China, will stimulate exports, especially of sheet metal products. In 2016, Turkish steel exports totaled 16.4 million tonnes and should be 3 percent higher in 2017.

The competitiveness of Turkish steel, in turn, is facilitated by the low price of scrap metal compared to iron ore, the price of which has been going up in recent months, raising the cost of steel production in blast furnaces. By relying on 70 percent of steel production in electric furnaces from scrap metal, Turkey will be in a better position in terms of the cost, and therefore the price of finished steel.