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Turkey Metals Report 2016

Turkey Metals Report 2016

BMI View: As one of Europe's largest steel industries, Turkey has borne the brunt of the current steeloversupply on the international market and continued drop in prices. Steel exports faced particularchallenges over 2015 as they have come up against rising competition from Chinese supplier. However, arelatively favourable domestic demand scenario should ensure positive growth in Turkish steel output over2016, which should carry through to the end of our forecast period.

Though remaining among the leading centres for steel production in Europe, Turkey's steel makers willcontinue to face ongoing challenges over the coming months as narrowing export opportunities andincreased competition from overseas producers weigh on crude steel prices and output. We expect Turkey'stotal crude steel production to have fallen by 6.5% year-on-year (y-o-y) during 2015, with the declineresulting to a large extent from a much harsher environment for exports, many of whom have traditionallyrelied on steady demand from European and the US as well as the CIS region. Like other steel makers inEurope, Turkish mills have found themselves affected by the current glut in Chinese production. Chinesecrude steel exports grew by 26.5% y-o-y during the first eight months of 2015, while Turkish shipmentscontracted by 8.4% over the equivalent period. Falling sales volumes have been reflected in the financialresults of Turkish steel makers, with one of the country's two lead producers, Kardemir, reporting a 24%dip in sales in 2014


BMI Industry View
SWOT
Metals SWOT
Industry Forecast
Steel: Export Slump Main Threat To Output
Table: Steel Production & Consumption (Turkey 2012-2019)
Table: Steel Industry Historical Data (Turkey 2006-2013)
Regulatory Development
Political Risk
Economic Risk
Business Environment Risk
Anti-Corruption Drive Paying Off
Tax Regime
Table: Political Overview
Commodities Forecast
Commodities Outlook
Table: BMI Commodities Price Forecasts
Competitive Landscape
Table: Turkey - Steel Mills
Table: Turkey - Largest Listed Metal Producers, Key Financial Metrics
Company Profile
Erdemir
Table: Erdemir - Financial Data
Kardemir
Table: Kardemir - Financial Data
Methodology
Cross Checks

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