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Türkiye's iron and steel sector is recovering in Europe after Africa

Türkiye's iron and steel industry, which has recovered in the African market, is also making efforts to recover in Europe.

Türkiye's iron and steel sector is recovering in Europe after Africa

In October, exports of the ferrous and non-ferrous metals sector decreased by 7.1 percent to 973 million dollars.

Türkiye's iron and steel sector achieved a positive momentum with 76 percent exports to Spain, 5 percent to Romania, 49 percent to the UK and 12 percent to Italy through AKIB (Mediterranean Exporters' Associations).

According to the data announced by the Mediterranean Ferrous and Nonferrous Metals Exporters' Association (ADMIB), ferrous and non-ferrous metal exports decreased by 19 percent compared to October 2022 and amounted to 61 million dollars. In the said month, steel exports decreased by 2.8 percent to 153 million dollars.

Iraq ranked first in ADMIB's exports with 16 million dollars, Algeria ranked second with 15.5 million dollars and Egypt ranked third with 14.7 million dollars. The top 10 markets were Algeria, England and Syria.

The country to which Türkiye exported the most iron and steel in October was Germany with 169 million dollars, the second country was Romania with 129 million dollars, and the third country was the USA with 112 million dollars. The top 10 in Türkiye's export market list were Spain, Romania and Morocco.

In the Turkish steel industry, a 3.1 percent decline was realized and an export figure of 1.3 billion dollars was achieved. Ferrous and non-ferrous metals exports accounted for 4.3 percent of total exports, while steel accounted for 5.8 percent.

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