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Market Overview – Turkey Steel Industry
Turkey is the largest steel producer in Europe and ranks seventh globally. In 2021, crude steel output reached a record high of 40.4 million tons, but since 2022 the industry has faced significant challenges, particularly due to the Russia-Ukraine conflict, which disrupted raw material imports from Ukraine.
Turkey’s steel sector is dominated by highly flexible short-process mills using electric furnaces with scrap as the main input. This enables rapid adjustment to market demand but also makes producers highly sensitive to raw material price fluctuations, as most scrap is imported from Europe and North America.
The country’s favorable geographic position and modern port facilities support both imports of raw materials and exports of finished steel. After the 2023 earthquake, reconstruction projects boosted demand for long products. At the same time, Turkey maintained anti-dumping measures on certain steel imports to protect domestic producers.
However, trade dynamics shifted sharply: from January to September 2023, steel exports fell by 39.7% while imports surged by 53.4%. For the first time since 2015, imports exceeded exports, turning Turkey into a net importer of steel.
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