CIB: Turkish Steel Industry Will Target New Markets in 2019
Apr. 24, 2019
Discussing the expectations for 2019, Turkish Steel Exporters’ Association (CIB) president Adnan Aslan has said that the Turkish steel industry has the advantage of its export and market knowledge besides its productivity. According to Aslan, Turkey’s exports volume might go down to 15-16 million mt, compared to 21.4 million mt in 2018.
Mr. Aslan stated that reaching out to new markets, especially Southeast Asia, West Africa and Latin America, will be the main goal of Turkish exporters in 2019. Regarding the US’ doubling of tariffs on steel imports from Turkey to the level of 50 percent, Aslan underlined the difficulty of exporting in these circumstances, while voicing the Turkish industry’s hopes for the elimination of the tariffs.
On the other hand, he stressed the threat posed by China to the global steel industry, claiming that the country may focus heavily on exports in the face of overproduction. Furthermore, China has become a main competitor for Turkish exporters in the Far East, together with India, Qatar and Saudi Arabia, he noted.
The CIB president also stated that the recent flood of steel to Turkey from Iran created a quality problem, specifically in steel products used in construction. One in three trucks transporting steel from Iran to Turkey fails quality tests and returns home without being unloaded, Aslan said.