Turkey: Cold-Rolled Steel Products Market 2024

Cold-Rolled Steel Products Market Size in Turkey

The Turkish cold-rolled steel products market soared to $X in 2023, growing by X% against the previous year. In general, consumption saw significant growth. Cold-rolled steel products consumption peaked at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.

Cold-Rolled Steel Products Production in Turkey

In value terms, cold-rolled steel products production soared to $X in 2023 estimated in export price. Over the period under review, production enjoyed significant growth. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Cold-rolled steel products production peaked at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Cold-Rolled Steel Products Exports

Exports from Turkey

In 2023, overseas shipments of flat-rolled products of iron or steel (not further worked than cold-rolled) decreased by X% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, exports, however, showed buoyant growth. The growth pace was the most rapid in 2021 with an increase of X%. As a result, the exports reached the peak of X tons. From 2022 to 2023, the growth of the exports remained at a lower figure.

In value terms, cold-rolled steel products exports dropped rapidly to $X in 2023. Overall, exports, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2022 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Greece (X tons), Ukraine (X tons) and Romania (X tons) were the main destinations of cold-rolled steel products exports from Turkey, with a combined X% share of total exports. Egypt, Italy, Bulgaria, Canada, Spain, Poland, Iraq, Slovenia, the United States and Belgium lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for the United States (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Romania ($X), Ukraine ($X) and Greece ($X) were the largest markets for cold-rolled steel products exported from Turkey worldwide, together accounting for X% of total exports. Italy, Egypt, Bulgaria, Canada, Spain, Slovenia, Poland, Iraq, Belgium and the United States lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Belgium, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cold-rolled steel products export price stood at $X per ton in 2023, reducing by X% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2022, and then fell rapidly in the following year.

There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Slovenia ($X per ton), while the average price for exports to Greece ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (X%), while the prices for the other major destinations experienced a decline.

Cold-Rolled Steel Products Imports

Imports into Turkey

In 2023, supplies from abroad of flat-rolled products of iron or steel (not further worked than cold-rolled) increased by X% to X tons, rising for the fourth consecutive year after two years of decline. The total import volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum in 2023 and are expected to retain growth in the immediate term.

In value terms, cold-rolled steel products imports declined dramatically to $X in 2023. In general, imports continue to indicate perceptible growth. The pace of growth was the most pronounced in 2021 with an increase of X%. Imports peaked at $X in 2022, and then shrank significantly in the following year.

Imports by Country

China (X tons), South Korea (X tons) and Russia (X tons) were the main suppliers of cold-rolled steel products imports to Turkey, with a combined X% share of total imports. Spain, France, India, Belgium, Indonesia, Austria, the UK, Germany and the Netherlands lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Indonesia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), South Korea ($X) and Russia ($X) appeared to be the largest cold-rolled steel products suppliers to Turkey, together comprising X% of total imports. Indonesia, Spain, France, Germany, Belgium, India, Austria, the Netherlands and the UK lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Indonesia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average cold-rolled steel products import price amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the import price showed a mild decrease. The pace of growth was the most pronounced in 2021 an increase of X%. The import price peaked at $X per ton in 2022, and then reduced dramatically in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Indonesia ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Austria (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform