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Turkey's steel export outlook amid growing protectionism

10 Dec 2024 15:58 reported by Louise Wang

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As global protectionist measures increase, Turkey's steel export market is becoming more regionalized. Turkey has set an export target of 22.5 million tons for 2025, 6 million tons higher than the expected 2024 exports.

Protectionist policies, including quotas, taxes, and technical trade barriers, are posing challenges for Turkish exporters. For instance, when imports rise by 15-20%, producers may request anti-dumping or anti-subsidy investigations, often leading to trade disputes.

The UAE, once a major importer of Turkish steel for infrastructure, has now become a net exporter, while other Gulf countries like Saudi Arabia, Qatar, and Oman are ramping up production.

Turkish producers are increasingly focused on high-value products to differentiate themselves and boost exports, expecting a 22% export growth in 2024 despite the challenges.

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