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In the third quarter of 2025, Turkey's steel export growth slowed significantly. While the cumulative export growth rate in the first half of the year was still as high as 18.2%, it rapidly narrowed to 1.3% in the third quarter, reflecting weakening external demand and a tightening environment in major export markets. 30G140 Grain oriented electrical steel, Meanwhile, steel import growth further expanded from 12.4% to 27.5% in the third quarter, with strong inflows of external resources causing domestic steel capacity utilization to drop to approximately 62.7%, exacerbating the industry's operational pressure.
The strategic adjustments made by industry leaders also reflect the continued pressure on the steel industry's prosperity. Management of a large group revealed that the company is gradually shifting from slow-growing traditional industries such as steel and cement to higher-margin sectors like energy, logistics, and high technology, reflecting the structural challenges brought about by declining industry profitability. Industry insiders point out that if the steel industry cannot stabilize capacity utilization and profit levels, more companies may push for strategic transformation.
In terms of cumulative performance, Turkey's apparent consumption of finished steel increased by 3.9% year-on-year from January to September, reaching 28.9 million tons, indicating that domestic demand continued to grow moderately. 30G140 Grain oriented electrical steel, However, steel imports increased by 17.2% year-on-year to 14.2 million tons during the same period, with the growth rate far exceeding that of consumption. This suggests that external resources still have a significant price advantage, and imports continued to expand even after tariffs and price controls were previously imposed on some hot-rolled products.
Turkey's exports reached 11.4 million tons in the first three quarters, a year-on-year increase of 12.1%. While the growth rate remains positive, it is significantly weaker than in the first half of the year, indicating a clear slowdown in export momentum. 30G140 Grain oriented electrical steel, Against the backdrop of strong imports, the industry's export/import coverage ratio remained at approximately 78:100, suggesting that the increase in exports is insufficient to offset the impact of imports.
Looking ahead, the European market is Turkey's most crucial export destination, accounting for approximately 40%. If import quotas continue to tighten and excess tariffs increase in the future, exporting companies may face higher market entry barriers, which the industry anticipates could significantly depress export volumes by 2026.
Overall, the sharp decline in export growth in the third quarter and the continued increase in imports in the first three quarters have put greater pressure on Turkey's steel industry in terms of demand, competition, and capacity utilization. Against the backdrop of global supply restructuring and tightening policies in major export markets, how the industry can enhance its competitiveness and optimize its capacity layout will be key issues for future development.
