Turkish merchant bar and sections producer Kocaer Celik, which is aiming to focus more on value-added steel production with new investments, is also planning to expand distribution channels in overseas markets, the company said Sept. 30.
“In line with our overseas strategic growth plans, we are targeting to raise our business volume and revenues in export markets by expanding distribution channels,” the company said in a statement to the public disclosure platform.
“Within this scope, we are aiming to continue our growth in our existing distribution channel in the UK and to establish similar companies in other countries,” Kocaer said.
The company changed the name of its MyMetal Ltd affiliate in the UK to Kocaer Steel UK Limited, as of Sept. 29, it also said.
Kocaer has a combined steel production capacity of 800,000 mt/year at its three Turkish mills producing merchant bars, beams, channels and sections.
The company built a new 100,000 mt/year hot-dip galvanizing line at the beginning of 2022 to increase its structural steel output.
Value-added steel products currently make up 40% of the company’s total steel production, with Kocaer saying in a statement it aimed to raise this to 50% at the end of 2022 and to 75% in 2024.
It currently exports 84% of its steel output to 140 different countries, it said.
Although long steel export prices at Turkish mills rose sharply, especially in March, prices have declined since then due to a sluggish market environment.
Platts, part of S&P Global Commodity Insights, assessed Turkish exported rebar at $682.5/mt FOB Sept. 27, down from an intra-year high of $970/mt FOB reached March 24.
— Cenk Can