Turkey’s steel exports decreased by 6.8pct YoY to 3.5 mln tons in the first quarter of 2026, while export revenues fell by 9.4pct to USD 2.3 bln, according to the Turkish Steel Producers’ Association (TCUD).
In March, however, exports showed signs of recovery, rising 5pct YoY to 1.5 mln tons, with export value increasing slightly by 0.5pct YoY to USD 1 bln.
Steel imports increased by 2.6pct YoY to 4.3 mln tons in January-March, although import value declined by 1.5pct to USD 3 bln. In March alone, imports rose sharply by 38.2pct YoY to 1.6 mln tons, with value up 23.4pct YoY to USD 1.1 bln.
As a result, the export-to-import ratio declined to 77.8pct in Q1 2026 from 84.5pct a year earlier.
Crude steel production increased by 5.3pct YoY to 9.7 mln tons in the first quarter, while March output rose 6.4pct YoY to 3.3 mln tons. Finished steel consumption grew by nearly 9pct YoY to 9.9 mln tons, with March demand rising around 21pct YoY to 3.2 mln tons.
According to TCUD, export performance weakened in early 2026 but showed recovery in March. The association noted that shifting global supply chains, partly due to Middle East tensions and cautious Chinese export activity, may create opportunities for Turkish steel, particularly in Europe.
However, rising input costs, including scrap approaching USD 400 per ton, along with higher energy, freight and insurance costs, continue to pressure margins and competitiveness.
TCUD also highlighted growing global protectionism, including tighter EU import quotas and similar measures in other markets, and called for stronger safeguards to protect the domestic industry amid rising imports.