Turkey’s steel exports rose by nearly 12pct YoY in the first two months of 2025, reaching 2.3 mln tons. The export value also saw a modest increase of 2.8pct, totaling USD 1.5 bln, according to the Turkish Steel Producers’ Association (TCUD). However, in February 2025, steel exports grew by only 3.2pct YoY to 1.2 mln tons, while the export value declined by 6.4pct to USD 790.1 mln.
Steel imports experienced a sharper rise during the same period. In January-February 2025, Turkey’s steel imports surged by 21.6pct YoY to 3.1 mln tons, with the import value increasing by 7.8pct to USD 2.1 bln. In February alone, imports climbed 17.6pct YoY to 1.3 mln tons, with their value rising to USD 940.1 mln.
Despite the increase in trade activity, Turkey’s crude steel output declined by 3.7pct YoY in the first two months of 2025, falling to 6.1 mln tons. The downward trend continued in February, with production dropping 5.6pct YoY to 2.9 mln tons.
Meanwhile, domestic demand for finished steel remained strong. Consumption increased by 9.8pct YoY to 7 mln tons in January-February 2025. February saw an even sharper rise, with consumption jumping 18.6pct to 3.4 mln tons.
While overall steel exports grew, TCUD reported a significant drop in shipments to key markets. Exports to the U.S. plummeted by 80.6pct, reaching just 14,700 tons, while exports to the Far East and South Asia fell by 37.6pct to 20,500 tons.
On the import side, Turkey’s steel imports from the CIS region surged by 117pct YoY to 778,000 tons in early 2025, a stark contrast to the 19pct decline recorded in 2024.
The global steel trade is becoming increasingly regional due to rising protectionist policies. Following former U.S. President Donald Trump’s tariff hikes, the European Union, Turkey’s largest trade partner under a Free Trade and Customs Union agreement, is considering imposing quota restrictions on several countries, including Turkey. If implemented, these restrictions could weigh on Turkish steel exports to the EU until the safeguard measures expire on June 30, 2026, making it difficult to compensate for losses in the region.
Given the growing domestic demand and rising trade barriers, TCUD underscored the need for Turkey to adopt policies similar to those of the EU and U.S. to safeguard its steel industry, prioritizing domestic supply to ensure sustainability.