ADMIB/Tosyali: Our Goal is to Elevate the Turkish Steel Industry to Greater Heights

Forex - ADMIB achieved increases of 6.4% in iron and non-ferrous metals, and 56% in steel. The rising demand in Europe and target markets continued this month as well.
ADMIB Chairman Fuat Tosyalı stated that strong demands from European markets accelerated growth in the iron and steel sector in October and expressed confidence that they will demonstrate strong performance in the remaining two months of the year.
In October, Turkey's export of iron and non-ferrous metals rose by 15.6% to $1.1 billion, while the steel sector experienced a decline of 4.3%, amounting to $1.3 billion in exports. Together, the two sectors accounted for 10% of Turkey's exports in October.
According to data from the Mediterranean Exporters' Association of Iron and Non-Ferrous Metals (ADMIB), the iron and non-ferrous metals sector achieved exports of $65 million, reflecting a 6.4% increase compared to the same month last year. This month's steel exports by ADMIB reached a new record of $239 million, marking a 56% increase, in contrast to Turkey's overall steel export figures.
"Our goal is to further strengthen the Turkish iron and steel sector."
Evaluating the export performance of the iron and steel sector for October, ADMIB Chairman Fuat Tosyalı indicated that demand from target markets in Europe continued in the month of October. He emphasized that the observed increases demonstrate the strength of the sector, stating, "As ADMIB, we have successfully completed another month. These results show that the sector is making steady progress on the path of stable growth. The double-digit increases recorded in markets such as Italy, Spain, Ukraine, the USA, and the United Kingdom clearly reveal our increased competitiveness in the international arena."
Tosyalı highlighted that this success was achieved not only from Europe but also thanks to strong demands from African markets, asserting, “Our positive momentum continues in 2024, and we firmly believe that we will showcase strong performance in the remaining two months. Our goal as a sector is to surpass our record from 2021 and to further strengthen the Turkish iron and steel sector.”
Italy Takes the Lead
In October, the country where Turkey achieved the most successful iron and steel exports was Germany with $189 million. This was followed by Italy with $169 million and Iraq with $119 million. Notable export increases were recorded for Italy at 65%, the United Kingdom at 34%, and Bulgaria at 29% among the top 10 markets.
In ADMIB's October exports, Italy also led with $50 million. Among the top 10 markets, Spain saw an increase of 394%, Italy 285%, Ukraine 146%, the USA 115%, and the United Kingdom 109%.