The Turkish Steel Producers Association (TCUD) reported notable shifts in the country’s steel trade for the January-July period of 2024. Steel imports dropped due to lower domestic demand and a base effect from high 2023 levels.

Despite this overall decline, imports from Egypt and Indonesia surged, while imports from China continued to rise sharply.

TCUD expressed concern over China’s growing presence and urged Turkey to impose restrictions to protect its domestic market.

On the export side, Turkey’s steel shipments to the US and the EU saw significant growth, benefiting from recovery after previous declines and market disruptions caused by tensions in the Red Sea. While exports to the Far East slightly increased, they remain far below the peak levels of 2021, with rising Chinese exports posing ongoing competition.

In total, Turkey’s steel exports rose by 45.3% to around 7.7 million tons in the first seven months of the year, while the value increased by 25% to nearly US$5.7 billion. In contrast, imports decreased by 14.8% to 9.4 million tons, with their value falling by 21% to US$7.5 billion.