Financing issues affect competitiveness of Turkish steel industry
Time:Mon, 17 Apr 2023 09:37:47 +0800
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The Istanbul Ferrous and Non-ferrous Metals Exporters Association (IDDMIB) indicated that Turkey's short-term and high-interest rate loans and low exchange rate policy make it difficult for companies to secure financing.
As a result, it negatively affects the competitiveness of Turkish producers in domestic and export markets. Market weakness is likely to persist until May 14 general election amid uncertainty. Turkish mills' exports of ferrous and non-ferrous metals fell by 14.6% year on year to US$1.25 billion in March due to unfavorable market conditions.
