What is expected in steel prices in the first half of 2023?

The www.steelradar.com team came together with the Ayrik Steel team after the 10th Mining Turkey Fair, which was held at Tüyap Fair Center.

The chairman of the board of Ayrik Steel made some statements about the 2023 expectations of the steel industry. Even in China, which has 50% of the world's production volume, prices are expected to rise, he said. There has been an increase of 10% worldwide in recent years. He said that in the near future, steel prices may increase uncontrollably due to energy and gas costs.

Due to the embargo process with the decision from the European Union, the region will meet its steel needs from Turkey, not Russia. Therefore, a good period may be waiting for Turkey. However, he continued to comment that they may consider purchasing semi-finished products from Iran due to the cost reality in Turkey.

He added that Russia and Iran have a strategic importance in the purchase and sale of goods, and at the same time, they stand out from other countries due to their energy costs. A rise in steel prices is planned until May 2023, he said. He emphasized that the biggest reason for this is that there will be a period in which there will be a further restriction in production due to gas prices in Europe and there will be a period when the supply will decrease.