[SMM Iron & Steel] Turkey's Q1 2026 Steel Output Rises 5.3%

Published: May 7, 2026 15:45

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Turkey's crude steel production grew by 5.3% year-on-year to 9.7 million metric tons (mt) in the first quarter of 2026, supported by a 6.4% output increase in March to 3.3 million mt. Meanwhile, domestic finished steel consumption surged 8.9% year-on-year to 9.9 million mt in Q1, but the foreign trade balance weakened as steel exports dropped 6.8% to 3.5 million mt while imports climbed 2.6% to 4.3 million mt, pushing the export-to-import ratio down to 77.7%. Although Middle East supply chain shifts and reduced Chinese export aggression opened market opportunities in Europe, producers face mounting operational pressures and narrowing profit margins due to scrap prices approaching $400/mt, surging freight rates, and stringent EU import regulations.

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