Moderated by Harun Bozoklar, President of Bozoklar Metal, Söz Sizde – Steel Talks was held with the participation of the leading names of the sector. Opening the event, Bozoklar stated that as the Steel Foreign Trade Association, they support events organized to contribute to the development of the sector. Emphasizing that everyone's contribution is of great importance for the future of the sector, Bozoklar also touched upon the difficulties of the past year. He stated that the gradual decline in prices every month made the sector even more challenging, and that the increasing exports from the Far East made the process even more challenging for Türkiye.
“Tax Wind After the US Elections: Will Türkiye's Iron and Steel Industry Win or Lose?” Cem Öztüre, Chairman of Öztüre Holding and SteelRadar, made the opening presentation of the event and drew attention to the direct impact of the changing political atmosphere on global trade dynamics. Evaluating the possible repercussions of the new US tariff policies on the steel industry, Öztüre said, “Is this just a tax wind or will it turn into a storm? Time will tell,” he said.
In his presentation, Cem Öztüre said that in 2024, the US will produce 79 million tons of crude steel using 75% of its production capacity, while Türkiye will produce 36 million tons with 55-60%. Noting that Mexico, Brazil and Canada, which are in the top three of the countries that the US imports iron and steel from, may be among the countries that will be most affected after the tariffs that are expected to take effect on March 12, he pointed out that the US exchanges with the countries that are expected to be most affected by the tariffs in iron and steel trade and emphasized that the ranking of these countries will decrease and the ranking of other trade partners of the US will increase.
Is it an opportunity for Türkiye?
Pointing out that production in the US is carried out with BOFs rather than arc furnaces, Öztüre said that the US does not look favorably on green steel production for this reason. Öztüre drew special attention to the serious decline in production in the Lakes region due to rising costs, and emphasized the importance of ports in the region, where there are valuable iron ore deposits, and touched upon logistics. He emphasized that logistical evaluations are important for producers who want to play a role in the Lakes Region as Canada and Mexico lose their influence in the south.
On whether the expected changes could be an opportunity for Türkiye, he stated that Türkiye is a serious producer of flat steel, which is the most imported product of the US, and that the Turkish iron and steel sector is developing in pipe and profile production, which is the second most imported product of the US, and that the US tax winds could be an opportunity for the Turkish iron and steel sector.
You can watch Cem Öztüre's full speech with English subtitles by clicking here: https://www.youtube.com/watch?v=TIhaAC-4gaA
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