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Turkish steel exporters eyes new markets after US tariff hikes-2019 China(Guangzhou) Int’l Laser Equipment and Sheet Metal Industry Exhibition
8/29/2018 Laser Equipment, Sheet Metal Industry expo |
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Daily Sabah reported that in the face of additional US tariffs on Turkish steel and aluminum, exporters are looking to explore alternative markets in the Far East and South America. Speaking to Anadolu Agency, Aegean Ferrous and Non-Ferrous Metals Exporters Association Chairman Mr Yalç?n Ertan said that Turkey is the world''s eighth largest and Europe''s second largest producer of steel. Ertan said that the sector exported 1.9 million tonnes of steel to the US last year. He noted that there is a commercial decline around the globe due to the recent US stance.
He said that "After this implementation, our steel exports to the U.S. have become more difficult. However, we can easily close the gap with exports to Far Eastern and South American countries.” He said that the sector is accustomed to this kind of practice and this has actually given them some sense of defiance.
He added that "Like a frontiersman, we can travel all over the world with a bag and sell Turkish steel to the rest of the world.”
According to Turkish Exporters Assembly, steel exports reached USD 8.36 billion in the January to July period this year, with a 27 percent rise compared to the same period last year. During this period, the largest export destination for Turkish steel was Italy. It was followed by the US with USD 552 million. Exports to Far Eastern countries and South American countries, which have been set as the new targets by exporters, stood at USD 160 million and USD 225 million, respectively.
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