Türkiye’s steel export growth, Syria’s market is concerned

Türkiye's steel exporters SL3N440 steel plan to export 750000 tons of steel to Syria in the second half of 2025. On February 4, Adnan Aslan, chairman of Türkiye Iron and Steel Exporters Association (CIB), said that steel mills in Iskenderun had begun to export steel products to Syria. With the normalization of the regional situation, it was estimated that the export volume in the second half of the year might reach 750000 tons, and the market potential could reach up to 2 million tons.

Aslan SL3N440 steel pointed out that the reconstruction demand of Syria provides an important opportunity for Türkiye's steel export, which will significantly support the export volume if it goes smoothly. In addition, he said that if the Russia-Ukraine conflict ends, Türkiye's steel industry will also usher in new export opportunities.

Previously, after negotiations with Syrian officials, Syria decided to lower tariffs on 269 products originating in Türkiye, including some steel products. According to Mysteel, Türkiye's steel exports to the United States are still affected by 25% of the "Article 232" tariff. In addition, there are anti-dumping duties for individual companies. At present, the average tax rate of Türkiye's steel exports to the United States is between 27% and 31%, and the annual export volume is about 560000 tons, accounting for 3% of Türkiye's total steel exports. Before the implementation of Article 232 in 2018, the United States was one of Türkiye's main steel export markets.

In 2024, Türkiye's SL3N440 steel total export of steel will be 17.7 million tons, up 21.8% year on year. Its main export destinations are Romania, Italy, Yemen, Ukraine and Iraq. It is estimated that the total export volume of Türkiye's steel industry will increase by 5% to 18.5 million tons in 2025.