Turkey: Hot-Rolled Steel Products Market 2025

Hot-Rolled Steel Products Market Size in Turkey

For the third year in a row, the Turkish hot-rolled steel products market recorded growth in sales value, which increased by 140% to $X in 2021. Overall, consumption, however, continues to indicate a pronounced decrease. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Hot-Rolled Steel Products Production in Turkey

In value terms, hot-rolled steel products production shrank remarkably to $X in 2021 estimated in export price. In general, production, however, showed a significant decrease. The pace of growth appeared the most rapid in 2018 when the production volume increased by 411% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Hot-Rolled Steel Products Exports

Exports from Turkey

In 2021, overseas shipments of flat-rolled products of iron or steel (not further worked than hot-rolled) were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports recorded a strong increase. The growth pace was the most rapid in 2018 with an increase of 50% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, hot-rolled steel products exports skyrocketed to $X in 2021. Overall, exports showed a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Italy (X tons), the United States (X tons) and Spain (X tons) were the main destinations of hot-rolled steel products exports from Turkey, together comprising 52% of total exports.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +26.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for hot-rolled steel products exported from Turkey were Italy ($X), the United States ($X) and Spain ($X), with a combined 51% share of total exports.

Spain, with a CAGR of +29.5%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average hot-rolled steel products export price stood at $X per ton in 2021, picking up by 73% against the previous year. Over the period under review, export price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +2.3% over the last nine-year period. 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 somewhat for the major export markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Canada ($X per ton) and Italy ($X per ton), while the average price for exports to the United States ($X per ton) and Belgium ($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 Egypt (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Hot-Rolled Steel Products Imports

Imports into Turkey

In 2021, imports of flat-rolled products of iron or steel (not further worked than hot-rolled) into Turkey skyrocketed to X tons, increasing by 34% against the previous year. Overall, total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +39.3% against 2018 indices. The pace of growth was the most pronounced in 2015 when imports increased by 42% against the previous year. Over the period under review, imports attained the maximum in 2021 and are likely to see gradual growth in years to come.

In value terms, hot-rolled steel products imports surged to $X in 2021. In general, imports continue to indicate a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Russia (X tons), Ukraine (X tons) and India (X tons) were the main suppliers of hot-rolled steel products imports to Turkey, with a combined 55% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +94.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Ukraine ($X) and China ($X) were the largest hot-rolled steel products suppliers to Turkey, together accounting for 51% of total imports. These countries were followed by India, South Korea, France, Japan, Italy, Romania, Germany, Belgium, Slovakia and the Netherlands, which together accounted for a further 38%.

India, with a CAGR of +75.6%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average hot-rolled steel products import price amounted to $X per ton, growing by 61% against the previous year. Over the period under review, import price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +3.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. 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 South Korea ($X per ton), while the price for Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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