Turkey - Iron and Steel - Market Analysis, Forecast, Size, Trends And Insights
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View PricingAverage Turkey Iron and Steel Price Decreases by 9%, Reaching $409/ton
Turkey Iron and Steel Import Price in July 2023
In July 2023, the iron and steel price stood at $409 per ton (CIF, Turkey), dropping by -9.1% against the previous month. In general, the import price saw a pronounced contraction. The most prominent rate of growth was recorded in March 2023 when the average import price increased by 8.2% m-o-m. Over the period under review, average import prices attained the maximum at $535 per ton in July 2022; however, from August 2022 to July 2023, import prices stood at a somewhat lower figure.
As there is only one major supplying country, the average price level is determined by prices for Russia.
From July 2022 to July 2023, the rate of growth in terms of prices for India amounted to 0.0% per month.
| COUNTRY | Import Price of Iron and Steel in Turkey (USD per ton) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Jul 2022 | Aug 2022 | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 | May 2023 | Jun 2023 | Jul 2023 | |
| Russia | 535 | 471 | 434 | 454 | 440 | 417 | 425 | 430 | 451 | 458 | 460 | 444 | 406 |
| Brazil | N/A | 766 | 536 | 742 | 719 | N/A | N/A | N/A | N/A | N/A | 515 | N/A | N/A |
| India | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 525 | N/A | N/A | N/A |
| Average | 535 | 513 | 470 | 480 | 465 | 451 | 435 | 438 | 473 | 495 | 478 | 451 | 409 |
Turkey Iron and Steel Import Prices by Type
Prices varied noticeably by the product type; the product with the highest price was iron and non-alloy steel in ingots ($1,253 per ton), while the price for pig iron and spiegeleisen stood at $408 per ton.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by iron and non-alloy steel in ingot (+5.9%).
Turkey Iron and Steel Imports
In July 2023, imports of iron and steel into Turkey skyrocketed to 141K tons, increasing by 105% against the previous month's figure. Over the period under review, imports saw a relatively flat trend pattern.
In value terms, iron and steel imports skyrocketed to $58M (IndexBox estimates) in July 2023. In general, imports, however, recorded a slight decline.
Turkey Iron and Steel Imports by Type
In July 2023, pig iron and spiegeleisen (141K tons) was the main type of iron and steel supplied to Turkey, accounting for a 100% share of total imports. It was followed by iron and non-alloy steel in ingots (268 tons), with a 0.2% share of total imports.
From July 2022 to July 2023, the average monthly rate of growth in terms of the volume of import of pig iron and spiegeleisen was relatively modest.
In value terms, pig iron and spiegeleisen ($57M) constituted the largest type of iron and steel supplied to Turkey, comprising 99% of total imports. The second position in the ranking was held by iron and non-alloy steel in ingots ($336K), with a 0.6% share of total imports.
Turkey Iron and Steel Imports by Country
In July 2023, Russia (125K tons) constituted the largest supplier of iron and steel to Turkey, accounting for a 89% share of total imports. Moreover, iron and steel imports from Russia exceeded the figures recorded by the second-largest supplier, Germany (15K tons), eightfold.
From July 2022 to July 2023, the average monthly rate of growth in terms of volume from Russia was relatively modest.
In value terms, Russia ($51M) constituted the largest supplier of iron and steel to Turkey, comprising 88% of total imports. The second position in the ranking was held by Germany ($6.5M), with an 11% share of total imports.
From July 2022 to July 2023, the average monthly rate of growth in terms of value from Russia totaled -2.5%.
This report provides an in-depth analysis of the iron and steel market in Turkey. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
Country coverage:
- Turkey
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Turkey
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
