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Steel Market in Turkey: Current Analysis and Predictions

This market analysis examines the current state of the steel market in Turkey, including the determinants of demand and supply. It also predicts the future trends based on factors such as income levels, import ratios, and cost of production.

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Steel Market in Turkey: Current Analysis and Predictions

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  1. The Steel Market in Turkey A Market Analysis by Melda Alaluf

  2. Current Steel Market in Turkey • Determinants of Demand: • Price of Substitute Goods (Aluminum or copper) • Tastes and preferences (most preferred construction material) • Determinants of Supply: • Productivity (Skilled steel industry workforce) • Government Intervention (GITES Action Plan) • Supply Shock (weather conditions have been ideal, unlike U.S.)

  3. Predicted Steel Market in Turkey • Determinants of Demand: • Consumers’ income (increasing after global crisis ended in 2009) • Derived demand (Automotive industry/infrastructure) • Determinants of Supply: • Cost of Production (rising raw material costs) • High Import Ratio (imports from China reach 2.25 million)

  4. Works Cited Gönültas, Bahattin. "Rising Chinese Steel Imports Hurt Turkish Market: Producers.”Anadolu Agency. Anadolu Press, 11 May 2015. Web. 5 Oct. 2015. <http://www.aa.com.tr/ en/turkey/rising-chinese-steel-imports-hurt-turkish-market-producers/48635>. Kurtaran, Gökhan. "Rise in Turkey's Iron, Steel Export Volume Dependent on Price Hike.” HurriyetDaily News. Hurriyet, 27 Jan. 2011. Web. 5 Oct. 2015. <http:// www.hurriyetdailynews.com/default.aspx?pageid=438&n=rise-in-iron--steel- exports-volume-dependent-on-price-hike-2011-01-27>. Turkey. Investment Support and Promotion Agency. Republic of Turkey Prime Ministry. The Iron and Steel Industry in Turkey. Invest in Turkey, Dec. 2013. Web. 5 Oct. 2015. <http://www.invest.gov.tr/en-US/infocenter/publications/Documents/IRON- STEEL-INDUSTRY.pdf>.

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