Low price imported steel will hit Türkiye’s steel industry in 2023

Türkiye Steel Producers Association (TCUD) said in a statement on December 1 that the import of low price steel had caused a heavy blow to the industry, especially the low price steel import quotation from Asian suppliers, which damaged the vitality of Türkiye's steel industry in 2023.
TCUD stressed that Türkiye's total steel imports in the first 10 months of this year increased by 18.8% year on year, and necessary preventive measures need to be taken urgently to solve the damage to the industry HX260BD+ZM steel.

On October 31st, the Ministry of Commerce launched an anti-dumping investigation into import hotspots originating from China, India, Japan, and Russia. The department also launched a safeguard investigation against imported non-alloy and alloy wires on November 3 and issued a decree in the official national bulletin.

According to the data released by TCUD on December 1, the steel export/import coverage of Türkiye's steel industry so far this year has dropped from 93:100 in the same period last year to 54:100, with the import volume increasing by 18.8% year-on-year to 14.8 million tons. Due to the low price quotation of foreign suppliers, these import costs totaled $12.7 billion, down 5.2%.

However, due to sluggish demand, high costs and fierce competition in the global market, HX260BD+ZM steel pricing of Türkiye's steel mills continued to be under pressure throughout the year.

Türkiye's HX260BD+ZM steel export volume in the past 10 months fell 36.4% year on year to 8.5 million tons, and the revenue generated by these exports fell 44.7% to 6.9 billion US dollars. Although Türkiye's crude steel output recovered 4.1% year on year in November, the output in the first 10 months of this year was 27.5 million tons, still 8.8% lower than the same period last year.