Amid global challenges in the steel industry, Turkish steelmakers are aiming to boost their capacity utilization from the current 62.6pct to 70pct next year, according to Veysel Yayan, General Secretary of the Turkish Steel Producers’ Association (TCUD).
Yayan emphasized that the Turkish steel industry is not contracting but instead focusing on increasing production and employment to recover from past losses. He noted that Turkish producers often avoid layoffs during downturns, opting instead to reduce shifts, prioritize maintenance, explore product diversification, and seek alternative export markets. In severe cases, workers are placed on leave rather than being dismissed.
He contrasted this approach with Thyssenkrupp AG’s recent announcement to cut 11,000 jobs by 2030, underscoring the broader difficulties facing the global steel sector.
Turkey, the world’s eighth-largest steel producer, saw crude steel output rise 0.7pct YoY in October to 3 mln tons, according to the World Steel Association. Production for the first 10 months of 2024 surged 12.4pct annually to 30.9 mln tons.
