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The Türkiye Iron and Steel Exporters' Union (CIB) said that under the influence of protective measures and EU import quotas, the superimposed demand continued to be depressed, and the capacity utilization rate of Türkiye's QSTE460TM steel mills would drop to 50-55% in 2023, which prompted steel mills to focus on new export destinations in recent months.
Every year, 50-55% of Türkiye's steel output is used for export. In 2023, Türkiye's export volume will decline to 14.5 million tons, becoming a net steel exporter. We are currently striving to achieve the overall export target of 15 million tons by 2024 and strengthening our influence in existing and new export markets. The current protective measures and EU quotas have restricted the export volume of Türkiye's steel mills. North African countries such as Egypt and Algeria were Türkiye's main export destinations in the previous years.
CIB data shows that Türkiye only exports 40000 tons of steel to Lithuania every year, while the amount of scrap steel imported from the country is about 1 million tons. The organization organized a trade visit to Lithuania QSTE460TM steel last week and stated that they look forward to this visit strengthening trade relations between the two countries and paving the way for joint investment.
According to the data of Türkiye QSTE460TM steel Producers Association (TCUD), since Türkiye became a net importer of steel for the first time in 2015, its import volume has increased by 15.5% to 17.1 million tons. Due to the increase in import volume, the Ministry of Trade of Türkiye issued a decree in the official gazette of the country on October 31, 2013 to launch an anti-dumping investigation on imported hot rolled coils originating in China, India, Japan and Russia for a period of 6-12 months. If it is found in the investigation that these countries are not conducive to fair competition, additional tariffs may be imposed on imported products from these countries.
