Turkiye's steel production likely to decline further

According to the statement of Turkish Steel Producers Association General Secretary Veysel Yayan, steel production may decrease by more than 10% in 2022 due to high energy costs.

In 2021, the capacity utilization of steel plants in Turkiye was 75%. However, capacity utilization declined to 60% in the last three months of 2022. According to Yayan, steel prices will rise if energy prices continue to increase.

In the first eight months of this year, Turkiye's steel production amounted to 24.4 million tons, down 8.8% y-o-y.