SMM8, 15 March: although the United States has recently raised import tariffs on Turkish steel, the country's steel producers will find other ways to export steel, the chief executive of a large Turkish steel company said on Tuesday.
So far, the Asian market has received further attention from Turkish steel producers and traders, and two steelmakers have sold more rebar to Singapore and Hong Kong. However, the chief executive of the steel company also pointed out that the focus of steel exports will be "not on the volume of exports, but on the dollar," because as early as 2009, Turkish steel companies were more concerned about profit margins. Rather than steel production sold to other markets.
Despite the recent sharp fall in the lira, there is also talk of making it harder for Turkish companies to get letters of credit denominated in dollars. But many Turkish steelmakers have maintained good finances and operations, supported by strong profit margins over the past few months.
In the face of the current difficulties, Turkish steel mills are taking the necessary measures to provide special designs and types of steel products such as steel bars, the executive said. Including the quality certification of steel products will still find the corresponding market overseas.
In the past two weeks, the export price of Turkish rebar fell by about $20 per metric ton to $520 per metric ton due to trade tensions with the United States and the collapse of the lira exchange rate.
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