Hurriyet Daily reported that Turkish Ekol Iron & Steel expects that European Union’s ban on steel exports from Russia and Belarus will pave the way for an increase in Turkish steel exports and there will be an increase in Turkey’s steel exports to the United States and many countries due to the supply shortage in the EU. Ekol Iron and Steel Chairman Ms Elif Tulay said “The EU’s quota regulation has increased the steel export share of many countries. For the next two months, Russia’s 600,000 tonnes of quota for many products such as hot-rolled coil and rebar, and 80,000 tonnes of Belarus’ quota have been distributed to other countries. This quota arrangement will be extremely positive for the Turkish steel industry. Steel exports to the EU will increase, and the supply shortage experienced there will also cause problems in the EU’s exports to the US.”According to data from the Turkish Steel Producers’ Association, Turkish steel exports rose 20% to a record 19.9 million tonnes in 2021 & steel exports revenue was up 93% to USD 16.5 billion in 2021. The combined share of the United States and the European Union in Turkey’s overall steel exports declined from 40% in 2020 to 34% in 2021 due to protection measures in those regions
Hurriyet Daily reported that Turkish Ekol Iron & Steel expects that European Union’s ban on steel exports from Russia and Belarus will pave the way for an increase in Turkish steel exports and there will be an increase in Turkey’s steel exports to the United States and many countries due to the supply shortage in the EU. Ekol Iron and Steel Chairman Ms Elif Tulay said “The EU’s quota regulation has increased the steel export share of many countries. For the next two months, Russia’s 600,000 tonnes of quota for many products such as hot-rolled coil and rebar, and 80,000 tonnes of Belarus’ quota have been distributed to other countries. This quota arrangement will be extremely positive for the Turkish steel industry. Steel exports to the EU will increase, and the supply shortage experienced there will also cause problems in the EU’s exports to the US.”According to data from the Turkish Steel Producers’ Association, Turkish steel exports rose 20% to a record 19.9 million tonnes in 2021 & steel exports revenue was up 93% to USD 16.5 billion in 2021. The combined share of the United States and the European Union in Turkey’s overall steel exports declined from 40% in 2020 to 34% in 2021 due to protection measures in those regions