According to data provided by the Turkish Statistical Institute ( TUIK), Turkiye's imports of semi-finished products increased by 42.36% in the first 8 months of 2023 compared to the same period last year, while exports decreased by 91.47%.
Turkiye's imports of semi-finished products increased by 42.6% to 4 million 337 thousand tonnes in the first 8 months of this year compared to the same period last year.
Exports decreased by 91.47% from 564,875 tonnes to 48,190 tonnes. According to SteelRadar analyst's assessment, billet production is putting a strain on steel mills.
With a 20 per cent increase in energy costs, pricing on the production map of a product has led to hikes, while profit margins have decreased drastically.
Some of the factories producing billets started to produce on order at some times while working on contract basis at other times. It is a fact that imported billets are far from the quality in Turkiye.
The high quality of the Turkish steel industry continues to fight against geographical reasons. While Iran's gaining power in the Middle East has made Turkiye's export and domestic market more difficult, Russian billet prices have increased.
The reason for the increase in prices in Russia was the increase in demand for rebar in domestic markets and the desire of billet producers to seize the opportunity. The increase in taxes in Russia was also reflected as an increase in export prices.
Supportive incentives for production in the industrial sector in Turkiye and steps to facilitate production are expected.
The countries to which Turkiye exports semi-finished products are as follows
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