This will affect steel output in Turkey, with local demand also limited by the country’s economic uncertainty and the decline in the exchange-rate value of the Turkish lira since August 2018.
The lira was trading at TRY100 to $16.7951 on Monday April 29, compared with TRY100 to $17.5769 on April 1, 2019, and TRY100 to $24.6848 on April 29, 2018, according to exchange-rate website Oanda.com.
Turkey produced 8.189 million tonnes of crude steel in January-March 2019, a decrease of 14.54% from 9.582 million tonnes in the first three months of 2018, according to the Turkish Steel Producers Association (TÇÜD).
It exported a combined total of 21.40 million tonnes of steel products in the full year of 2018, a 20.80% increase year-on-year.
But the country is unlikely to match that export level in 2019 because of several challenges.
Ugur Dalbeler, chief executive officer of Turkish steelmaker Çolakoglu Metalurji, who is also a member of the board...