Turkey’s steel exports revenue in H1 2024 rose 10.6% year on year to $8 billion, Mediterranean Ferrous and Non Ferrous Metals Exporters’ Union (ADMIB) Head Fuat Tosyali said in a statement July 27, without citing tonnages.
Higher demand from the EU supported H1 exports, he said, adding that mills had begun to receive the fruits of investments to comply with the EU’s Green Deal.
“We are expecting to exceed the first half growth seen in our export volumes in the second half of the year,” Tosyali said.
Turkish mills witnessed double-digit increases in exports to Italy, Romania, Spain, Greece and the UK in H1, according to ADMIB data.
Turkey, which lost its net steel exporter position and became a net steel importer in 2023 for the first time since 2015, has set a 17 million mt export target for 2024.
“Despite global challenges, Turkish steel producers have been continuing their investments to carry them one step further in global competitiveness and to provide sustainability,” Tosyali said.
Tosyali Holding’s 4 million mt/year quantum electric arc furnace-based flat steel mill started production in January, while some other large steelmakers also recently launched new steel capacities.
Platts, part of S&P Global Commodity Insights, assessed Turkish domestic hot-rolled coil at $570/mt EXW July 26, down 20% since the start of 2024.
