The Turkish steel industry managed to increase its export volumes in 2018 despite the creation of international trade barriers that had a huge effect on the market, the Turkish Steel Exporters' Assn (??IB) told Fastmarkets on Friday February 22.
Turkey increased its steel exports by 20.80% year-on-year to 21.40 million tonnes in the full year of 2018, while the value of those exports rose by 36.10% year-on-year to $15.60 billion thanks to rising steel prices, according to the association.During the year, however, the European Commission imposed safeguarding quotas on steel exports from Turkey, while the United States doubled its Section 232 import tariffs on Turkey-origin materials, to 50% from 25%.As a result, Turkey's steel export volumes into the US fell sharply in 2018. But the president of the ??IB, Adnan...