Turkey’s Akcelik starts building new steel service center

Large Turkish alloy and bright steel bar producer Akcelik has started construction of its new service center in Dilovasi, Kocaeli, to meet rising steel demand, the company said July 31.

The center will have a steel processing capacity of 40,000 mt/year, the company said, adding that it would be powered by a new solar power plant.

Akcelik also plans to double the capacity of 58%-owned Romanian chrome-plated steel bars and tubes producer Tristar Steel within five years with new investments, it said.

Tristar produces hard chrome-plated steel bars and linear shafts with diameters in the range of 6-40 mm.

Akcelik also has 90,000 mt/year of bright bar production capacity at its peeling, cold-drawing and grinding lines in Turkey.

Steel prices in Turkey rose significantly in mid-March following Russia’s invasion of Ukraine, but have declined since mid-April with Turkish mills’ rebar export price falling as low as $615/mt FOB July 29, according to data from S&P Global Commodity Insights.

— Cenk Can