Considering the importance of the region in the global steel market and for the iron and steel industry in our country, it is anticipated that it will disrupt the global supply chain. It is among the information received that there was no serious damage to any of the steel production plants in the region. However, in terms of logistics, the damage at the Iskenderun port will disrupt the supply chain.
When all this is taken into account, ships stranded at sea awaiting delivery of scrap shipments can put pressure on scrap prices. The interruption of Turkish steel exports will also support the price of long products. Considering that Turkey, which accounts for 20% of its annual shipments, is the largest consumer of US scrap exports, its impact on prices is also evident. In addition, Turkey's finished steel exports to the US account for only 4% of 2022 imports, while it accounts for 7% of the region's long product imports.
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