Local producers have filled their order books until November, they said.
The price falls in September were in part a result of the Turkish lira losing a significant amount of value during August, after United States President Donald Trump announced higher tariffs to be applied to his country’s imports from Turkey, doubling them to 20% on aluminium and 50% on steel.
“I have just authorized a doubling of tariffs on steel and aluminium with respect to Turkey as [its] currency, the Turkish lira, slides rapidly downward against our very strong dollar,” Trump said on social media on August 10.
“Aluminium will now be [subject to duty at] 20% and steel [at] 50%. Our relations with Turkey are not good at this time,” he added.
The Turkish currency was trading at TRY100 to $16.69 at the time of publication on October 3. It had been trading at TRY100 to $19.82 on August 3 this year,...