9,347.17 TL BIST 100 BIST 100
4.34 CNY CNY CNY
31.06 $ USD USD
€33.62 EUR EUR
0.13 CNY CNY/EUR CNY/EUR
43.42 TL Interest Interest
83.25 $ Fossil Oil Fossil Oil
22.62 $ Silver Silver
3.88 $ Copper Copper
121.11 $ Iron Ore Iron Ore
394.00 $ Ship Dismantling Ship Dismantling
2,023.50 TL Gold (gr) Gold (gr)

We definitely need to increase the weight of renewable energy use in industry

The iron and steel sector, one of the locomotive sectors of Turkey's exports, undertook 15.6% of Turkey's total exports with exports of 35.4 billion dollars in 2022.

We definitely need to increase the weight of renewable energy use in industry

Stating that the iron and steel sectors around the world are experiencing a period of stagnation as a result of the crises, ADMİB Chairman of the Board of Directors Fuat Tosyalı said, "We are a sector that uses energy intensively in production. Rising energy costs have negatively impacted our competitiveness. That is why we insist on the importance of green transformation and the use of renewable energy. We definitely need to increase the weight of renewable energy use in the industry. As the Union, we are working with our member companies on this issue. Our main goal will be to ensure that our sector achieves a sustainable competitiveness at the global level."

Turkey's exports in 2022 increased by 12.9% compared to 2021 and amounted to $254.2 billion. In 2022, the Turkish ferrous and non-ferrous metals sector achieved an export income of 14 billion 385 million dollars with an increase of 16.4% compared to the previous year, while the steel sector exceeded the limit of 20 billion dollars and signed an export of 21 billion 62 million dollars despite a decrease of 5.3%. The ferrous and non-ferrous metals sector became the 6th most successful sector with a share of 6.3% in Turkey's total exports, while the steel sector became the 4th most successful sector with a share of 9.3%. While the country's exports set a new record in 2022, the rebar and steel sectors contributed 15.6% to Turkey's total exports with $35.4 billion.
When the export figures from the Mediterranean Ferrous and Non-Ferrous Metals Exporters' Association (ADMİB) in 2022 are examined, exports from the ferrous and non-ferrous metals sector increased by 6.7% to $ 901 million, while exports from the steel sector decreased by 8.2% to $ 2 billion 618 million.
Rising energy costs negatively impact export targets
Stating that the Turkish iron and steel sector closed 2021 with a record break in exports and started 2022 with the same momentum, ADMİB Chairman Fuat Tosyalı said that the rest of the year was negative for the sector due to the negative effects of the Russian-Ukrainian war, increasing protectionism measures and high increases in energy prices. Underlining that the iron and steel sectors around the world are experiencing a period of stagnation, Tosyalı evaluated 2022 as follows: "As the Turkish steel sector, we closed 2022 with exports of 21.1 billion dollars with a decrease of 5.3%. In ferrous and non-ferrous metals, we increased by 16.4% and completed with exports of 14.4 billion dollars. We are an energy-intensive sector in production. Naturally, price increases in energy have significantly increased our costs. Rising energy costs have negatively impacted our competitiveness. As a result, our exports fell short of our targets. We have also experienced the negative effects of the Russian-Ukrainian war on our sector. On the other hand, with the decline in the activity of Russia and Ukraine, we have begun to observe a revival of steel demand in the North African and Middle Eastern markets and North American markets. As Turkish steel exporters, we want to take advantage of this opportunity."
Exports of iron and steel rod reached 4.4 billion dollars
When the sectoral exports of Turkey's ferrous and non-ferrous metals - steel sectors in 2022 are examined on the basis of product group; iron and steel bar was seen to be in the first place with about $4.4 billion. This product was followed by iron and steel with $3.5 billion, iron and steel pipe with $2.5 million, aluminum bar-profiles with $ 2.4 billion and iron and steel construction parts with $ 2.3 billion.
When ADMİB's exports in 2022 are examined according to product groups, iron and steel pipe ranked first with 716.8 million dollars of exports. This product was folowed by iron and steel flat coating with $511 million, iron and steel construction components with $262.8 million, iron and steel bar with $ 247.4 million, and other goods furniture group from base metals with $235.1 million.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Billet prices react to changing demand in Türkiye, Russia and Ukraine

Sunday, February 25, 2024

Metinvest's 2023 steel production declined

Sunday, February 25, 2024

Minister Özhaseki warns about "carbon footprint"

Sunday, February 25, 2024

Japan to provide $4.86 billion in incentives for chip

Sunday, February 25, 2024

Uncertainty prevails in the East Asian steel market

Saturday, February 24, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now