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Turkey - Iron and Steel - Market Analysis, Forecast, Size, Trends And Insights
Report Update: Nov 1, 2024

Turkey - Iron and Steel - Market Analysis, Forecast, Size, Trends And Insights

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Oct 12, 2023

Average Turkey Iron and Steel Price Decreases by 9%, Reaching $409/ton

Turkey Iron and Steel Import Price in July 2023

In July 2023, the iron and steel price stood at $409 per ton (CIF, Turkey), dropping by -9.1% against the previous month. In general, the import price saw a pronounced contraction. The most prominent rate of growth was recorded in March 2023 when the average import price increased by 8.2% m-o-m. Over the period under review, average import prices attained the maximum at $535 per ton in July 2022; however, from August 2022 to July 2023, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Russia.

From July 2022 to July 2023, the rate of growth in terms of prices for India amounted to 0.0% per month.

Turkey Iron and Steel Import Prices By Country (USD Per Ton)
COUNTRYImport Price of Iron and Steel in Turkey (USD per ton)
Jul 2022Aug 2022Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023Feb 2023Mar 2023Apr 2023May 2023Jun 2023Jul 2023
Russia535471434454440417425430451458460444406
BrazilN/A766536742719N/AN/AN/AN/AN/A515N/AN/A
IndiaN/AN/AN/AN/AN/AN/AN/AN/AN/A525N/AN/AN/A
Average535513470480465451435438473495478451409

Turkey Iron and Steel Import Prices by Type

Prices varied noticeably by the product type; the product with the highest price was iron and non-alloy steel in ingots ($1,253 per ton), while the price for pig iron and spiegeleisen stood at $408 per ton.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by iron and non-alloy steel in ingot (+5.9%).

Turkey Iron and Steel Imports

In July 2023, imports of iron and steel into Turkey skyrocketed to 141K tons, increasing by 105% against the previous month's figure. Over the period under review, imports saw a relatively flat trend pattern.

In value terms, iron and steel imports skyrocketed to $58M (IndexBox estimates) in July 2023. In general, imports, however, recorded a slight decline.

Turkey Iron and Steel Imports by Type

In July 2023, pig iron and spiegeleisen (141K tons) was the main type of iron and steel supplied to Turkey, accounting for a 100% share of total imports. It was followed by iron and non-alloy steel in ingots (268 tons), with a 0.2% share of total imports.

From July 2022 to July 2023, the average monthly rate of growth in terms of the volume of import of pig iron and spiegeleisen was relatively modest.

In value terms, pig iron and spiegeleisen ($57M) constituted the largest type of iron and steel supplied to Turkey, comprising 99% of total imports. The second position in the ranking was held by iron and non-alloy steel in ingots ($336K), with a 0.6% share of total imports.

Turkey Iron and Steel Imports by Country

In July 2023, Russia (125K tons) constituted the largest supplier of iron and steel to Turkey, accounting for a 89% share of total imports. Moreover, iron and steel imports from Russia exceeded the figures recorded by the second-largest supplier, Germany (15K tons), eightfold.

From July 2022 to July 2023, the average monthly rate of growth in terms of volume from Russia was relatively modest.

In value terms, Russia ($51M) constituted the largest supplier of iron and steel to Turkey, comprising 88% of total imports. The second position in the ranking was held by Germany ($6.5M), with an 11% share of total imports.

From July 2022 to July 2023, the average monthly rate of growth in terms of value from Russia totaled -2.5%.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the iron and steel market in Turkey. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

    Country coverage:

    • Turkey

    Data coverage:

    • Market volume and value
    • Per Capita consumption
    • Forecast of the market dynamics in the medium term
    • Trade (exports and imports) in Turkey
    • Export and import prices
    • Market trends, drivers and restraints
    • Key market players and their profiles

    Reasons to buy this report:

    • Take advantage of the latest data
    • Find deeper insights into current market developments
    • Discover vital success factors affecting the market

    This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

    In this report, you can find information that helps you to make informed decisions on the following issues:

    1. How to diversify your business and benefit from new market opportunities
    2. How to load your idle production capacity
    3. How to boost your sales on overseas markets
    4. How to increase your profit margins
    5. How to make your supply chain more sustainable
    6. How to reduce your production and supply chain costs
    7. How to outsource production to other countries
    8. How to prepare your business for global expansion

    While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

    1. 1. INTRODUCTION

      Making Data-Driven Decisions to Grow Your Business

      1. REPORT DESCRIPTION
      2. RESEARCH METHODOLOGY AND AI PLATFORM
      3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
      4. GLOSSARY AND SPECIFIC TERMS

    2. 2. EXECUTIVE SUMMARY

      A Quick Overview of Market Performance

      1. KEY FINDINGS
      2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

    3. 3. MARKET OVERVIEW

      Understanding the Current State of The Market and Its Prospects

      1. MARKET SIZE
      2. MARKET STRUCTURE
      3. TRADE BALANCE
      4. PER CAPITA CONSUMPTION
      5. MARKET FORECAST TO 2030

    4. 4. MOST PROMISING PRODUCT

      Finding New Products to Diversify Your Business

      This Chapter is Available Only for the Professional Edition PRO
      1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
      2. BEST-SELLING PRODUCTS
      3. MOST CONSUMED PRODUCT
      4. MOST TRADED PRODUCT
      5. MOST PROFITABLE PRODUCT FOR EXPORT

    5. 5. MOST PROMISING SUPPLYING COUNTRIES

      Choosing the Best Countries to Establish Your Sustainable Supply Chain

      This Chapter is Available Only for the Professional Edition PRO
      1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
      2. TOP PRODUCING COUNTRIES
      3. TOP EXPORTING COUNTRIES
      4. LOW-COST EXPORTING COUNTRIES

    6. 6. MOST PROMISING OVERSEAS MARKETS

      Choosing the Best Countries to Boost Your Exports

      This Chapter is Available Only for the Professional Edition PRO
      1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
      2. TOP CONSUMING MARKETS
      3. UNSATURATED MARKETS
      4. TOP IMPORTING MARKETS
      5. MOST PROFITABLE MARKETS

    7. 7. PRODUCTION

      The Latest Trends and Insights into The Industry

      1. PRODUCTION VOLUME AND VALUE

    8. 8. IMPORTS

      The Largest Import Supplying Countries

      1. IMPORTS FROM 2012–2023
      2. IMPORTS BY COUNTRY
      3. IMPORT PRICES BY COUNTRY

    9. 9. EXPORTS

      The Largest Destinations for Exports

      1. EXPORTS FROM 2012–2023
      2. EXPORTS BY COUNTRY
      3. EXPORT PRICES BY COUNTRY

    10. 10. PROFILES OF MAJOR PRODUCERS

      The Largest Producers on The Market and Their Profiles

      This Chapter is Available Only for the Professional Edition PRO

    11. LIST OF TABLES

      1. Key Findings In 2023
      2. Market Volume, In Physical Terms, 2012–2023
      3. Market Value, 2012–2023
      4. Per Capita Consumption In 2012-2023
      5. Imports, In Physical Terms, By Country, 2012–2023
      6. Imports, In Value Terms, By Country, 2012–2023
      7. Import Prices, By Country Of Origin, 2012–2023
      8. Exports, In Physical Terms, By Country, 2012–2023
      9. Exports, In Value Terms, By Country, 2012–2023
      10. Export Prices, By Country Of Destination, 2012–2023

    12. LIST OF FIGURES

      1. Market Volume, In Physical Terms, 2012–2023
      2. Market Value, 2012–2023
      3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
      4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
      5. Trade Balance, In Physical Terms, 2012-2023
      6. Trade Balance, In Value Terms, 2012-2023
      7. Per Capita Consumption, 2012-2023
      8. Market Volume Forecast to 2030
      9. Market Value Forecast to 2030
      10. Products: Market Size And Growth, By Type
      11. Products: Average Per Capita Consumption, By Type
      12. Products: Exports And Growth, By Type
      13. Products: Export Prices And Growth, By Type
      14. Production Volume And Growth
      15. Exports And Growth
      16. Export Prices And Growth
      17. Market Size And Growth
      18. Per Capita Consumption
      19. Imports And Growth
      20. Import Prices
      21. Production, In Physical Terms, 2012–2023
      22. Production, In Value Terms, 2012–2023
      23. Imports, In Physical Terms, 2012–2023
      24. Imports, In Value Terms, 2012–2023
      25. Imports, In Physical Terms, By Country, 2023
      26. Imports, In Physical Terms, By Country, 2012–2023
      27. Imports, In Value Terms, By Country, 2012–2023
      28. Import Prices, By Country Of Origin, 2012–2023
      29. Exports, In Physical Terms, 2012–2023
      30. Exports, In Value Terms, 2012–2023
      31. Exports, In Physical Terms, By Country, 2023
      32. Exports, In Physical Terms, By Country, 2012–2023
      33. Exports, In Value Terms, By Country, 2012–2023
      34. Export Prices, By Country Of Destination, 2012–2023

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