New Materials market report from Business Monitor International: "Turkey Metals Report Q3 2013"
Boston, MA -- (SBWIRE) -- 06/24/2013 -- BMI's Turkey Metals Report examines how the country's steel industry has performed in the face of external headwinds and warns that some segments are facing increased pressure as a result of decreased manufacturing activity in the EU. It examines the latest plant projects and whether output is keeping pace with the ongoing increases in capacity. The report also analyses the investment strategies being employed by the leading players in the Turkish steel industry, as they seek to maximise the growth opportunities offered by the regional market.
In the first 11 months of 2012, Turkey produced 33.0mn tonnes (mnt) of steel, up 6.7% on the same period in 2011, according to the World Steel Association (WSA). This followed a strong 2011 when output grew 17.2% year-on-year (y-o-y). As a result, Turkey represented 2.4% of global output growth. BMI believes Turkey is still on course for its estimated 6% growth in crude steel output for 2012, to 36.1mnt. The country is increasingly self-sufficient in a broad range of steel products as a result of increased capacity and a moderation in domestic demand growth.
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During 2012, Turkish flat steel imports were down 5% y-o-y to 2.43mnt, with hot-rolled imports declining 4% and coated steel imports falling 23%, offsetting rises of 14% in cold rolled flats and 2% in strip. At the same time, growth in exports is improving the country's steel trade surplus. Total steel exports grew 9% yo- y over the period to 11.7mnt, with revenue increasing 4% to US$9.3bn.
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