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Turkey’s steel exports have increased by 20% to a record 19.9 million tonnes in 2021, with higher prices meaning revenue will rise by 93% to $16.5 billion in 2021.
Turkey’s total finished steel consumption increased by 13% to 33.4 million tonnes in 2021.
Steel imports, meanwhile, increased 23% in 2021 to 15.4 million tonnes, with the cost of imports rising 86% to $14.4 billion.
Highlighting the share of imports in domestic steel consumption in 2021, TCUD (Turkish Steel Producers’ Association) secretary general Veysel Yayan reported that the combined share of the EU and the US in Turkey’s total exports fell to 34% in 2021 from 40% in 2020 due to protection measures in those regions.
As Turkey’s steel sector focused on new markets in 2021, steel mills’ export volumes to Latin American and Southeast Asian markets showed significant increases, with the absence of China in Southeast Asian markets supporting Turkish exports in 2021.
