Steel Prices in Turkey Today 2024

Steel Prices in Turkey have recently seen significant fluctuations, impacting various industries. This blog examines the current market trends and factors influencing steel costs in the Turkish market. Turkey has a growing steel industry, ranking among the top global producers. The sector contributes significantly to the country’s economy, with major steelmaking facilities located in coastal regions.

Overview of Steel in Turkey

Turkey’s steel industry has experienced significant growth in recent years, becoming a major player in the global market. The country’s strategic location, skilled workforce, and modern facilities have contributed to its success. Turkey is now one of the world’s top steel producers and exporters, with a focus on both domestic consumption and international trade.

Steel Prices in Turkey

Ankara: Ø8MM / 25,000 TL

Istanbul: Ø8MM / 24.650 TL

Gebze: Ø8MM / 25,050 TL

Karabük: Ø8MM / 24.900 TL

Izmir: Ø8MM / 24.200 TL

Iskenderun: Ø8MM / 25,050 TL

Tekirdag: Ø8MM / 24.800 TL

Samsun: Ø8MM / 25.350 TL

Turkish Reserves and Resources of Iron

Turkish iron reserves are concentrated in Sivas, Malatya, Bingöl, Adana and Kayseri regions. In addition to these ores, there are iron ore reserves of different sizes in Ankara, Balıkesir and Adapazarı regions and the ore produced is used in cement plants. Our reserves are not in a position to meet the requirements of integrated iron and steel factories with today’s consumption level for a long time.

How Did Turkey Start Iron Production?

With the “Law No. 26 on the Establishment of Iron Industry” published in the Official Gazette dated March 1926, 786 in Turkey, the structural foundation of the iron and steel industry was laid. While the iron and steel production in these years is approximately 24% produced in integrated facilities, the rest is produced in semi-integrated facilities. With years of experience, Turkey managed to produce 37.3 million tons of crude steel in 2019.