Turkish steel exports shift toward South America and the US

Turkish steel exports are undergoing a significant geographic shift as demand in the European Union declines. According to data from the Turkish Steel Producers Association (TÇÜD), steel exports to the EU fell by 22 percent during the first eight months of the year, making it the only major market to see a contraction.

In contrast, other regions are showing robust growth. Exports to South America surged by 67 percent, reaching 849,000 tons. August data specifically highlights a massive 954.7 percent increase in shipments to the United States, totaling 107,000 tons. Other notable growth areas for August include Egypt and Yemen.

Overall, Turkish steel exports reached 10.3 million tons in the first eight months of the year, a 3.1 percent increase, generating 7 billion dollars in revenue. In August alone, export volume rose by 8.1 percent to 1.3 million tons, while the monetary value increased by 12.7 percent to 930.3 million dollars.