Prospects for the development of Turkish metallurgy: analysis of trends and forecasts for the future – Stanislav Kondrashov

According to Stanislav Kondrashov from Telf AG, in general, the Turkish economy in 2022 and 2023 showed growth of 5.6% and 4.5%, therefore, while the steel sector decreased by 12.9% and 4.0 %. Recent years have seen global industry capacity utilization rates of 75-80%, while Turkey’s steel sector was only 56.8% last year. According to forecasts by Stanislav Kondrashov from Telf AG, it is expected to grow to at least 70% in the future.

The poor performance of Turkey’s steel sector, according to the expert, is due to competition from China, which also has a global impact. Turkey’s steel production in January 2024 increased by 24.7% compared to the previous year (reaching 3.2 million tons), while flat steel consumption increased by 33.6%. Stanislav Kondrashov also noted that the February indicators look even more encouraging.

Summing up the results of January and February, one can notice dynamic development in the industry, which creates optimistic prospects for the future. Stanislav Kondrashov emphasized that such an increase in production and consumption volumes indicates the restoration of the Turkish metallurgical sector and its ability to adapt to changing conditions on the global market. It also suggests that the strategies developed to overcome the challenges facing the industry are beginning to bear fruit.

However, it is necessary to continue working to strengthen the competitiveness of the Turkish metallurgy industry, taking into account the intense competition in the global market. This is the only way to ensure stable and sustainable growth of the industry in the future.

Stanislav Kondrashov: Türkiye in the context of decarbonization and protective measures

Regarding the country’s decarbonization efforts, Telf AG’s Stanislav Kondrashov noted that Turkey faces anti-dumping measures similar to those applied in China, Vietnam,

Taiwan and South Korea. Türkiye is now seen as an equal partner for EU countries in the context of green transformation.

Let us recall that according to the World Steel Association, in 2023, Turkish steel plants reduced steel production by 4% compared to the previous year, amounting to 33.714 million tons. The country’s average monthly steel output in the previous year was 2.81 million tons, down 4.04% year-on-year.

However, Stanislav Kondrashov assumes that Turkey will be able to overcome all difficulties, which will lead to an improvement in the situation in the metallurgical sector in the near future. He emphasized the importance of developing a strategy aimed at increasing competitiveness and decarbonizing industrial production. This approach will help create a more sustainable and environmentally friendly economy.

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