Turkey: Flat-Rolled Steel Products Market 2025

Flat-Rolled Steel Products Market Size in Turkey

The Turkish flat-rolled steel products market dropped to $X in 2021, waning by -13.5% against the previous year. In general, consumption showed a noticeable curtailment. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Flat-Rolled Steel Products Production in Turkey

In value terms, flat-rolled steel products production fell slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.2% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 38%. Flat-rolled steel products production peaked at $X in 2020, and then declined in the following year.

Flat-Rolled Steel Products Exports

Exports from Turkey

In 2021, the amount of flat-rolled products of iron or non-alloy steel exported from Turkey skyrocketed to X tons, jumping by 83% compared with the previous year's figure. Overall, exports posted significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 91% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, flat-rolled steel products exports skyrocketed to $X in 2021. In general, exports enjoyed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Italy (X tons), Egypt (X tons) and the United States (X tons) were the main destinations of flat-rolled steel products exports from Turkey, together accounting for 47% of total exports. These countries were followed by Tunisia, Iran, Algeria, Israel, Bulgaria, Greece, Spain, Hungary, Ukraine and Russia, which together accounted for a further 47%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hungary (with a CAGR of +911.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for flat-rolled steel products exported from Turkey were Italy ($X), Egypt ($X) and the United States ($X), together comprising 48% of total exports. These countries were followed by Tunisia, Iran, Algeria, Israel, Bulgaria, Greece, Spain, Hungary, Ukraine and Russia, which together accounted for a further 47%.

In terms of the main countries of destination, Hungary, with a CAGR of +862.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average flat-rolled steel products export price amounted to $X per ton, jumping by 60% against the previous year. Overall, export price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the countries with the highest prices were Algeria ($X per ton) and Bulgaria ($X per ton), while the average price for exports to Ukraine ($X per ton) and Russia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+10.8%), while the prices for the other major destinations experienced more modest paces of growth.

Flat-Rolled Steel Products Imports

Imports into Turkey

In 2021, overseas purchases of flat-rolled products of iron or non-alloy steel increased by 49% to X tons, rising for the second consecutive year after three years of decline. In general, imports showed noticeable growth. The most prominent rate of growth was recorded in 2020 with an increase of 62%. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, flat-rolled steel products imports surged to $X in 2021. Over the period under review, imports enjoyed a moderate increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X tons), China (X tons) and Slovakia (X tons) were the main suppliers of flat-rolled steel products imports to Turkey, with a combined 62% share of total imports. Serbia, India, Japan, the Netherlands, Russia, South Korea, Belgium, Spain, France and the United States lagged somewhat behind, together comprising a further 36%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Russia (with a CAGR of +67.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), China ($X) and Slovakia ($X) were the largest flat-rolled steel products suppliers to Turkey, together accounting for 63% of total imports. Serbia, India, Japan, the Netherlands, South Korea, Russia, Belgium, Spain, France and the United States lagged somewhat behind, together accounting for a further 34%.

South Korea, with a CAGR of +59.0%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average flat-rolled steel products import price stood at $X per ton in 2021, growing by 43% against the previous year. In general, the import price showed a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was India ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Serbia (+1.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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