Impact of Turkey's Rising Steel Exports on the Indian Steel Market

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Impact of Turkey's Rising Steel Exports on the Indian Steel Market

Business 04 Mar 2025 05:12 PM IST SB Team

Turkey's steel industry has recently experienced significant growth, with exports increasing by 27.6% in 2024, reaching 13.4 million metric tons. This upward trend continued into January 2025, with a 23.1% year-on-year rise, totaling 1.12 million tons. This expansion positions Turkey as a more formidable competitor in the global steel market, potentially influencing India's steel industry in several ways.

Enhanced Competition in Export Markets: Turkey's increased export capacity may lead to intensified competition in markets where both Turkish and Indian steel producers operate. This scenario could pressure Indian exporters to reassess their pricing strategies and enhance product offerings to maintain or grow their market share.
Domestic Market Implications: Turkey's imposition of anti-dumping duties on steel imports from countries including India, with tariffs ranging from 6% to 9%, could limit Indian steel exports to Turkey. This restriction may prompt Indian producers to seek alternative markets or focus more on domestic sales.
Raw Material Demand and Pricing: Turkey's increased steel production has led to a 6.7% rise in ferrous scrap imports, totaling 20.09 million tons in 2024. This heightened demand may influence global scrap prices, affecting Indian steel producers reliant on similar raw materials.
Regional Trade Dynamics: The expansion of steelmaking capacities in Southeast Asia, particularly in Malaysia and Indonesia, is reshaping regional import markets. This shift could alter trade flows, impacting both Turkish and Indian steel exporters as they navigate changing demand patterns.

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Breaking News

Impact of Turkey's Rising Steel Exports on the Indian Steel Market

Raw Material Demand and Pricing: Turkey's increased steel production has led to a 6.7% rise in ferrous scrap imports, totaling 20.09 million tons in 2024. This heightened demand may influence global scrap prices, affecting Indian steel producers reliant on similar raw materials.

Regional Trade Dynamics: The expansion of steelmaking capacities in Southeast Asia, particularly in Malaysia and Indonesia, is reshaping regional import markets. This shift could alter trade flows, impacting both Turkish and Indian steel exporters as they navigate changing demand patterns.

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