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To achieve ResponsibleSteel鈩�  certification, mills must meet strict ESG criteria designed specifically for the steel industry. This is a proud title for the sustainable steel production journey. BlueScope is the first steel mill in Vietnam and Southeast Asia to achieve ResponsibleSteel鈩� certification.NS BlueScope becomes first in Vietnam, Southeast Asia with ResponsibleSteel鈩� certificationThe first steel mill in Vietnam and Southeast Asia to achieve ResponsibleSteel鈩� certificationNS BlueScope is the first mill in Vietnam and Southeast Asia to achieve ResponsibleSteel鈩�  certification. This is also the third factory globally of BlueScope Group to receive this prestigious certification.ResponsibleSteel鈩�  is an international standard for sustainable development specifically for the steel industry. Mills are evaluated based on 13 "Responsible Steel" principles including environmental, social and governance (ESG) standards. The certification demonstrates BlueScope's commitment to sustainable development in Vietnam.Previously, in 20222, BlueScope was also the first and only galvanized steel supplier in Vietnam to be granted a "Green Label" certificate by the Singapore Green Building Council (SGBC) for its key products.NS BlueScope pioneers sustainable steel production in Vietnam and Southeast AsiaAchieving ResponsibleSteelTM certification not only helps the company build a specific development roadmap in sustainable steel production but is also an inspiration for businesses striving to build a strong Vietnamese steel community.Green steel or sustainable production is an emerging trend in developed markets such as the United States, Europe,... To meet sustainable production criteria, businesses are required to comply with higher standards.Not an exception to that trend, since 2015, Vietnamese steel enterprises have continuously researched and improved technology to lead the steel industry to implement green transformation, complying with the commitments of the COP26 Climate Change Summit. The Vietnamese steel industry has developed and become one of the leading manufacturers in ASEAN in terms of production and consumption of finished steel products, ranking 12th in the world in crude steel production by 2023.ResponsibleSteelTM certification inspires Vietnam's steel industry towards sustainability, aligning with global green trendsGeneral introduction about NS BlueScope VietnamNS BlueScope is one of the largest steel sheet manufacturers in Vietnam, part of the Australian NS BlueScope Group. NS BlueScope joined Vietnam's steel industry in 1993, specializing in galvanized steel products such as cold-plated steel, heat-insulating steel, foam steel,... Inheriting experience and production technology from NS BlueScope Australia group, NS BlueScope Vietnam's products are of high quality and exported to many fastidious markets around the world. In recent years, BlueScope has been the only galvanized steel manufacturer in Vietnam to possess Activate鈩� four-layer matrix plating technology - an AM standard that helps protect base steel against all harsh environmental conditions, increasing the lifespan of constructions and enhancing investment efficiency.The above article by AG真人游戏 Steel shared some interesting information surrounding ResponsibleSteel鈩� certification as well as NS BlueScope Vietnam mill. Don't forget to follow AG真人游戏 Steel to read more useful news about the Vietnamese and global steel markets.

Vietnamese iron and steel export value to Singapore in the first 2 months of 2024 reached more than 21.5 million USD, an increase of 56 times over the same period last year.According to preliminary statistics from the General Department of Customs, the value of exporting goods to the Singapore market in the first 2 months of 2024 reached nearly 737 million USD, an increase of 9% over the same period last year. Notably, the value of Vietnamese iron and steel exports to Singapore reached more than 21.5 million USD, an increase of 56 times over the same period last year.Currently, Singapore's infrastructure construction is increasingly developing, leading to a sharp increase in iron and steel import demand. Singapore is a country with the best economy in the Asia-Pacific region, especially in 2024, the country will promote the construction of social housing to support people in difficult economic contexts.In the context of the Chinese iron and steel market being dominant, exporting massively to many countries around the world, Singapore needs to find and expand the supply market for raw materials to replace China. This will contribute to reducing China's influence on the global economy.Vietnam is one of the key steel suppliers that helps Singapore reduce its dependence on Chinese supplies as well as solve the shortage of goods. In January 2024, Vietnam rose to the position of Singapore's 10th largest trading partner, with a two-way trade turnover of more than 2.9 billion SGD, an increase of 18.08%. Vietnam currently ranks 17th out of Singapore's 20 largest import partners with a turnover of 678.8 million SGD (up 30.34%). Vietnam's construction steel prices are competitive compared to other countries, so markets such as Singapore and Malaysia have increased imports in the first 2 months of this year.Above is the import-export situation of Singapore in the first 2 months of 2024 and the prospects for growth of Singapore-Vietnam steel import cooperation. All questions and needs to import high quality Vietnamese steel, customers please contact AG真人游戏 Steel via Whatsapp:+84769112358 or Email: [email protected].

T眉rkiye is the 8th largest steel producer in the world and has surpassed Germany, leading in steel production in Europe. However, in the past two years, its steel production and exports output has continuously decreased due to global economic difficulties. However, Turkish steel companies continue to boost production capacity, promising an explosive growth in 2024.1. T眉rkiye's steel production situationAlthough T眉rkiye still maintains the 8th position in the ranking of the world's largest steel producers, 2023 marked the second consecutive year of decline in the steel industry. According to WorldSteel, T眉rkiye produced 33.7 million tons of steel (down 4% y/y) in 2023 and 35.1 million tons in 2022 (-12.9% y/y). The decline in steel production from 2022 to 2023 was due to macroeconomic instability and high inflation. The Turkish lira depreciated around 60% against the dollar in 2023 restricted steel imports and domestic steel consumption.Currently, most of the Turkish steel industry produces through electric arc furnace technology. In 2022, 71.5% of the domestic steel was produced from these furnaces, so the increase in electricity prices was also a factor that seriously affected the steel industry. According to the Confederation of Turkish Steelmakers (CIB), the sharp increase in electricity prices accounted for 27% of production costs compared to 8% in 2021.Other factors affecting steel production and consumption in T眉rkiye include the increase in VAT from 18% to 20%, leading to higher steel coil prices. The earthquake in February 2023 also negatively impacted the steel industry when 1/3 of factories were forced to suspend production.In 2023, coil steel consumption reached 38.1 million tons, an increase of 17.1% compared to 2022, leading to a 15.5% increase in steel imports compared to the same period in 2023  (According to the Turkish Steel Manufacturers Association (TCUD). 2. T眉rkiye's steel import and export situationT眉rkiye's steel exports in 2023 continued to decrease to 10.5 million tons, -30.6% y/y. Export revenue reached 8.3 billion USD, down 40.7% y/y. In 2022, steel exports only reached 15.1 million tons, down 23.5% over the same period last year.During January - November 2023 period, the EU imported an average of 199,000 tons of steel from Turkey per month. In 2022, T眉rkiye's imports of rolled steel products into Europe reached 4.33 million tons, accounting for 15% of the market share. Steel exports from T眉rkiye declined due to the following factors: High electricity prices in T眉rkiye reduce price competitiveness compared to other supply sources.The EU and US strengthen trade defense measures to protect domestic manufacturers against dumping. The US imposed a 25% tariff on Turkish steel products. Opportunities to export steel to the EU are limited by the quota system. In addition, the EU also applied anti-dumping duties on hot-rolled steel sheets imported from T眉rkiye.China increased exports of cheap steel due to a steel surplus. Russian suppliers offer low prices to attract importers. This negatively impacts prices and export opportunities of other countries.Thus, steel exports from T眉rkiye to the EU are decreasing. Manufacturers are losing price competition in the EU market. At the same time, T眉rkiye faces massive imports, forcing the government to take measures to protect the domestic market.In 2022, T眉rkiye imposed tariffs on hot rolled imports from the EU. In May 2023, import duties on some flat rolled products increased by an average of 7%, specifically hot rolled steel coils from 9% to 15%, cold rolled steel coils from 10% to 17%, steel coils from 9% to 15% and hot rolling alloy from 6% to 14%.Entering 2024, the trend of increasing trade protection is still going strong. In January, tariff rates on some flat-rolled products increased and continued to maintain tariff rates on imported rolled steel. In the near future, the government will also review anti-dumping measures on hot-rolled steel coils from China, Japan, India and the Russian Federation along with stainless steel pipes from China and Taiwan.3. Turkish steel industry outlook 2024Experts predict that the Turkish steel market will have many bright spots thanks to growing global steel demand. The World Steel Association forecasts that steel consumption in T眉rkiye will reach 40.6 million tons, an increase of 5% by 2024.According to the Turkish Steel Association (TCUD), steel output in January 2024 reached 3.2 million tons, up 24.7% over the same period and flat steel consumption increased by 33.6% over the same period. The figures for February are even more positive.Manufacturers Kardemir, Y谋ld谋z, Colakoglu Metalurji, Has莽elik have planned to invest millions of dollars to increase production capacity in 2024.T眉rkiye has a large and growing domestic market, so the future of the steel industry will be based on meeting domestic demand. In addition, T眉rkiye has deployed steel production technology from CBAM scrap, providing advantages for exporting to the EU market.

According to the Vietnam Customs Department, iron and steel export output in the first 2 months of 2024 reached 1.5 billion USD, an increase of 19% in volume and 13% in value compared to the same period in 2023. In particular, Italy, the US and Malaysia were the top 3 import markets for Vietnamese steel in January 2024.In February 2024, the average export steel price reached 713 USD/ton, up 0.6% compared to the previous month. ASEAN continues to be Vietnam's largest steel export market, accounting for 32% of the market share. The EU and the US followed closely with 28% and 9% respectively.Notably, in January 2024, Vietnamese steel export volume to Italy, the US and Malaysia saw significant growth. Specifically, Vietnam exported 203,000 tons of iron and steel to Italy, an increase of 114% over the same period last year, while exports to the US reached 139,000 tons, an increase of 419%. In particular, iron and steel exports to the Malaysian market increased sharply in volume, reaching 120 thousand tons in the first month of the year, a 625% increase compared to January 2023.The reason why Malaysia boosts imports of Vietnamese iron and steel is because of the demand for steel, especially construction steel for domestic construction and infrastructure projects. According to the Southeast Asia Iron and Steel Institute (SEAISI), construction activities in the region gradually stabilize and develop, which will drive steel consumption in ASEAN countries. ASEAN's steel demand is expected to increase sharply in the next two years as construction activity recovers.Malaysia is one of Vietnamese 10 largest trading partners. Bilateral trade turnover has increased steadily over the years, with 2022 reaching nearly 14.8 billion USD. The two sides strive to achieve the goal of bringing bilateral trade turnover to 18 billion USD by 2025. Vietnam and Malaysia are members of new-generation trade agreements such as the Global Economic Partnership Agreement. Regional Partnership (RCEP), Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), ASEAN Trade in Goods Agreement (ATIGA) and ASEAN Free Trade Area (AFTA. Thanks to the support and facilitation from the governments of both countries, steel exports to Malaysia will have many positive highlights in the future.Furthermore, world steel demand is expected to grow strongly in 2024, reaching 1.8 billion tons, up 2% over the previous year. Therefore, Vietnam's steel production faces many opportunities and development in 2024, with an estimated growth of around 10%.Hopefully the information on bilateral import and export situation between Malaysia and Vietnam has helped you update the newest global steel news. AG真人游戏 Steel provides solutions to import high quality Vietnamese steel at good prices to help you save time, effort and minimize import risks. For any consulting information, please contact AG真人游戏 Steel via Hotline +842836223358 or Email: [email protected].

The European Commission, the executive body of the European Union, will consider requests to extend protection measures for a range of steel imports after receiving requests from the steel industry of EU countries.Specifically, on January 12, the EC received a request from the steel industry of 14 countries out of a total of 27 countries in the EU about domestic steel manufacturers being affected by the impact of the imported steel corrugated iron. This request is intended to determine whether an extension of existing safeguard measures is necessary to protect the steel industry of these countries.Excessive steel imports have caused serious damage to the domestic manufacturers in these countries. Therefore, after consideration, the EC finds that the request has sufficient evidence to support the need for continued safeguard measures to prevent or remedy the serious damage being experienced by the European Union's steel industry. These measures apply to the import of hot-rolled steel sheets, cold-rolled steel sheets, electrotechnical sheets, color-coated steel sheets, stainless steel sheets, tubular products of carbon steel and stainless steel, and wire rod. The tax imposition order was established on February 1, 2019 and lasts until June 30, 2021.However, after a lengthy review investigation, the EC extended the safeguard measures for another three years. The EC warns that if these measures are lifted, the steel industry of European Union countries will face a wave of imports, which will have a very negative impact on the economic performance of these countries. this country. In addition, the request includes examples related to modifications made by Union manufacturers. The Commission considers that the information provided, including the sources and supporting evidence, constitutes a sufficient basis for initiating an investigation.With the European Union expanding measures for importing countries, this is also an opportunity and a challenge for the Vietnamese steel industry. Particularly for the EU market, preliminary data shows that Vietnam's steel exports account for 24.1% of the turnover, reaching 2.2 million tons, a sharp increase of 86.2% over the same period. in 2022. Of which, exports to the Italian market increased by 127.7%, reaching 1,355 million tons; Belgium increased by 30.1%; Spain increased by 70.2%. According to the European Steel Association (EUROFER), Vietnam accounted for 8.1% of total finished steel products imported into Europe in the first 8 months of 2023. Meanwhile, finished steel imports from Turkey, China and India decreased sharply (-59%, -11% and -3% respectively), imports from Vietnam increased by 15%. The growth of iron and steel exports shows that steel industry enterprises are increasingly interested in exploiting the EU market and have made good use of the incentives provided by the EVFTA agreement.In addition, the EU's continued extension of protective measures also requires businesses in the Vietnamese steel industry to be mentally prepared to respond to events and to properly and fully comply with the agency's requirements. EC investigation agency throughout the process of the case, closely coordinating with the Trade Remedies Department to receive timely information and support.

Overcapacity in China has led to a surge in steel exports, affecting the consumption of domestic factories in Southeast Asia. According to short-term forecasts, the Southeast Asian steel market will be flooded with cheap Chinese steel, some of which is sold at prices lower than production prices through dumping behavior.According to the Secretary General of the Southeast Asia Iron and Steel Institute and former Deputy Minister of International Trade and Industry, expectations for the strong post-COVID-19 recovery in China's real estate and construction sector have not materialized. Meanwhile, steel output is expected to increase by 5% to more than 1 billion tons without any significant control policies. Even, Chinese steel exports are expected to reach a record high of 89 million tons. Excess capacity leads to "dumping" and the massive export of cheap steel to Southeast Asian countries.According to data from the Southeast Asia Iron and Steel Institute (SEAISI), total production capacity in the 2029-2030 period will reach 182.5 million tons, 2.3 times higher than the current capacity (78.1 million tons). Another obstacle is that China's construction and real estate sectors are unlikely to recover, so exporting steel to China is also difficult.In 2022, ASEAN-6's steel demand was 75.1 million tons, crude steel capacity was 78.1 million tons, output reached 50.5 million tons with capacity utilization at 64.6% (below the efficiency level of 80%). Steel imports reached 43.8 million tons, equivalent to 58% of demand. In Malaysia, factories face an even worse situation when they fall into a situation of overcapacity of more than 60%. Domestic demand was 5.4 million tons, capacity was about 10.6 million tons, while output is 3.6 million tons. Malaysia's top 4 long steel manufacturing companies also reported a loss of nearly 199 million USD in 6 quarters. From 2018 to 2022, the total losses of the 4 factories amounted to 1.35 billion RM. The new company entering Malaysia uses blast furnace (BF) technology that pollutes 3 times more than the EAF system. This negatively affects Malaysia's Net Zero roadmap by 2050.

In January 2024, Vietnam exported more than 1.16 million tons of steel with a value of more than 822.65 million USD and imported nearly 1.49 million tons of steel with a value of 1.06 billion USD. Notably, Vietnam's steel exports in 2024 will have many positive bright spots thanks to rising world steel demand and support from developed economies.1. Steel export situation in January 2024According to statistics from the General Department of Customs, as of January 2024, Vietnam's steel exports have increased for 4 consecutive months, reaching more than 1.16 million tons with a value of 822.65 million USD, an increase of 7.1% in price and 7.4% in value compared to the previous month; increased by 72.6% in volume and 80% y/y in 2023. The average export steel price also increased by 0.3% over the previous month and increased by 3.9% over the same period in 2023, to 709 USD/ton.2. Steel import situation in January 2024Conversely, steel imports in January 2024 reached nearly 1.49 million tons with a value of 1.06 billion USD, an increase of 27.3% in volume and 22.3% in value compared to December 2023; increased sharply by 151.2% in volume and 101.6% in value y/y in 2023. The average imported steel price reached 712 USD/ton, down 3.9% over the previous month and down 19.7% over the same period in 2023.Steel scrap imports in January 2024 also decreased after 3 consecutive months of increase, reaching 356,301 tons with a value of 140.96 million USD, down 18.8% in volume and 9.6% in value compared to the previous month. The average price of imported scrap steel reached 396 USD/ton, up 11.3% over the previous month and up 2.7% over the same period in 2023.3. Positive expectations for the steel industry in 2024The above positive results raise high hopes for the steel export market in 2024. Export volume in the following months can maintain growth thanks to a positive global demand outlook. According to the World Steel Association, world steel demand is expected to increase by 1.9% in 2024, demand from developed countries is expected to increase by 2.8%, of which the US and Europe will increase by 5.8% and 1.6%, respectively. On the other hand, steel demand of ASEAN countries (except Vietnam) is expected to increase by 5.2% in 2024, up 1.4% compared to 2023.It is expected that Vietnam's steel export output will improve in the first quarter due to the increasing difference between prices in North America and Europe compared to steel prices in Vietnam. In addition, Europe also issued sanctions and strictly controlled the import of semi-finished steel products from Russia while supporting the import of Vietnamese steel.

Recently, Pomina Steel plans to consider increasing the investment level of the Pomina 3 blast furnace project to VND 5,800 billion. At the same time, the company wants to establish a new legal entity with a strategic investor to comprehensively restructure the business.Pomina Steel Joint Stock Company has just announced the 2024 Extraordinary General Meeting of Shareholders documents with some notable content. Specifically, this steel manufacturer will submit to shareholders for review and approval of the settlement approval proposal and increase the blast furnace investment at Pomina 3 by more than 904 billion VND to nearly 5,880 billion VND. This additional adjustment is equivalent to an increase of 18% compared to the initial expected investment level. Pomina Steel Board of Directors requests shareholders to review, approve, and approve the above proposal so that the company can complete the project procedures.The Pomina 3 blast furnace has been deployed since 2019 and put into production in February 2012. Currently, according to the fourth quarter 2023 financial report, Pomina Steel recorded costs of up to 5,808 billion VND (accounting for more than 55% of total corporate assets) to implement the blast furnace and EAF furnace projects.In addition, Pomina Steel plans to submit to shareholders a comprehensive restructuring plan for Pomina through cooperation with strategic investors to establish a new legal entity, Pomina Phu My Joint Stock Company. In particular, Pomina Steel will contribute capital in kind to all land, factories, and equipment lines. Strategic investors contribute capital in cash. Strategic investors, charter capital, and ownership structure are expected to be presented specifically at the congress. Pomina Steel said that the strong restructuring, especially with the participation of strategic investors, is a milestone, marking an important turning point for the company. This strategic cooperation will provide the necessary capital for the company to restart the steel billet blast furnace. It is expected that Pomina Steel will operate the blast furnace again in the fourth quarter of 2024 after a period of shutdown to anticipate the return of real estate projects that are expected to recover strongly in the last months of the year.Previously, at the end of January 2024, Pomina Steel announced the temporary suspension of its plan to privately issue more than 70 million shares (equivalent to 20% of the company's charter capital) at a price of 10,000 VND per share to investors. Nansei Steel Strategy (Japan). These shares will be restricted from transfer for 3 years. Pomina Steel once expected to earn about 700 billion VND from the above capital sale deal to restructure and supplement capital for business activities.2023 was be an unfavorable business year for Pomina Steel, recording revenue of 3,281 billion VND, down 74.6% compared to 2022 and continuing to report a net loss of 960 billion VND compared to a reported loss of nearly 1,167 billion VND. in 2022. Thus, Pomina's total accumulated loss has reached nearly 1,271 billion VND, equivalent to 45.4% of equity. This is also the highest loss during the business's 25 years of operation.Pomina Steel's board of directors said the cause of the loss was mainly due to weak consumer demand, a sharp decline in steel prices, and the high fixed costs of the newly put into operation blast furnace project. Besides, the use of high financial leverage also "erodes" the profits of this steel company.Currently, Pomina Steel has three construction steel billet and rolling mills with a total capacity of 2.6 million tons. Of which, steel billet refining capacity is 1.5 million tons per year, and construction steel rolling capacity is 1.1 million tons. Pomina Steel currently focuses mainly on construction steel, with the key market being the southern provinces.

According to the World Steel Association (WorldSteel), in 2023, global crude steel production reached 1,888 million tons, with Vietnam contributing 19 million tons to this figure. Despite a 5% decrease in crude steel production compared to 2022, Vietnam's notable achievement is an upward shift in its ranking, reaching 12th place globally among the 71 countries listed.Vietnam's crude steel production decreased by 5% but climbed one position in the rankingsIn 2023, Vietnam achieved a notable milestone as its crude steel production surpassed that of Taiwan, securing the 12th position in the global rankings. This highlights a positive outlook for steel demand in Vietnam, despite the ongoing incomplete recovery of the domestic real estate market. Additionally, leveraging political advantages, countries in the Middle East view Vietnam as a promising destination for steel imports. Experts emphasize that Vietnam's steel export volume in 2023 also benefited partly from the weakened export activities of competing nations such as China, India, and Turkey, creating opportunities to boost production capacity in the country.Vietnam ranks among the top 12 countries with the highest global crude steel production in 2023Predictions for 2024 anticipate a positive recovery in both demand and steel prices in Vietnam, with raw material prices forecasted to significantly decrease. This is expected to lead to a substantial increase in the Vietanm steel industry's profit margins. The primary driving force for domestic steel consumption comes from the expected strong recovery in the civil construction sector, while the industrial and infrastructure construction segments are projected to sustain growth throughout 2023.Regarding the export sector, the World Steel Association notes that the growth in infrastructure construction activities in the ASEAN, U.S., and EU markets, coupled with the benefits from bilateral agreements, will boost Vietnam's steel export activities this year. Therefore, it is expected that Vietnam's crude steel production in 2024 will experience a more robust increase compared to the current year, driven by both domestic and international market dynamics.China and India are the two largest steel producers globallyChina has once again maintained its position as the leading country in the global steel industry. In the past year, 2023, the country produced a staggering 1,019 million tons, sustaining its production at a stable level after two consecutive years of decline. According to analysts from S&P Global Commodity Insights, China's steel production is anticipated to decrease by 0.5% in 2024 as domestic plants seek solutions to address excess supply issues along with weak profit margins. This outcome is expected to lead to another prediction that China's iron ore imports will decline due to the slowing down of steel production.The statistical chart of raw steel-producing nations for the current year also reveals a remarkable surge in India's production, driven by robust domestic demand and infrastructure projects supported by the government's ongoing initiatives. In 2023, India recorded a noteworthy growth, with a production increase of 11.8% compared to the previous year, reaching an impressive 140.2 million tons. Notably, amidst the global decline in steel demand, India continues to maintain its position as one of the countries with the highest growth rates in crude steel production and stands out as one of the few nations showing positive growth trends.The monthly crude steel production figures for China and the world in 2023Crude steel production in Europe decline from weak demandOverall, crude steel production in Europe is reported to have decreased by 6.7% in 2023 compared to 2022. Among the 71 countries listed, the majority of nations in the European region witnessed negative growth. Specifically, Germany, recording its lowest crude steel production since 2009 with around 35.4 million tons in 2023, marked a 3.9% decrease from the previous year. Similarly, the second-largest steel producer in Europe, Italy, also exhibited a 2.5% reduction in production to 21.06 million tons.The simultaneous decline in steel production can be attributed to low consumption demand and high energy prices, presenting challenges for factories in the region. The steel industry in Europe is grappling with high production costs due to increased energy prices since the conflict between Russia and Ukraine, alongside an influx of cheaper imported products that impose limitations on local steel manufacturers.The production downturn is not limited to domestic output; steel exports to the EU also witnessed a 5.57% reduction in 2023 compared to the same period. However, the growth rate of steel exports to new markets, including Western Asia and Central Asia, experienced a substantial increase. The persistence of inflationary cycles and the strong impact of trade protectionism are considered the primary impediments to steel exports from other countries to this region. 

Turkey is planning an expansion to enhance its steel production capacity, aiming to lead Europe in the coming years.Turkey holds a prominent position in the global steel production and export market. The country's steel industry has gained recognition for manufacturing high-quality steel products and making continuous efforts to expand its capacity while incorporating advanced technologies into production. With its strategic geographical location, including an extensive Mediterranean coastline, Turkey currently produces and supplies steel primarily to the European market.The steel industry in Turkey comprises privately owned companies that continually strive for technological advancements and competitiveness in the market. The iron and steel sector is the third-largest contributor to the Turkish economy, reflecting significant development in recent years. Presently, Turkey ranks among the top 10 largest steel production countries globally. According to the World Steel Association (WSA), Turkey was the 8th-largest producer of crude steel in the world in 2022, with 35.134 million metric tons of crude steel. However, in 2023, due to the impact of an earthquake, one-third of Turkey's steel production plants had to temporarily halt steel production activities. It is known that in the last 5 years, Turkey has averaged exporting around 20 million tons of steel annually worldwide. In 2021, according to data from the World Steel Association (WSA), Turkey鈥檚 steel industry exported 22.1 million tons of steel, ranking as the 7th largest steel exporter globally. In 2022, according to the Turkish Steel Exporters' Association (CIB), Turkey's steel exports decreased to 19.6 million tons. While Turkey's steel exports increased in the first six months of 2022, they sharply declined in the second half of the year. According to the CIB, the total volume of Turkey's steel exports decreased by about 50% in the fourth quarter of 2022 compared to the same period in 2021. The main reasons for this decline are primarily attributed to the impact of the Ukraine conflict, inflation, high energy prices, and a global decrease in steel consumption. Particularly, the demand for steel imports from Europe has significantly reduced, while the EU has accounted for approximately 30% of Turkey's steel industry total steel export volume in the past 5 years.Therefore, recently, Turkey has set the goal of becoming the leading country in steel production within the EU in the near future. Alongside efforts to achieve the set objectives, the Director-General of the European Steel Association (EUROFER) emphasizes the challenges that the Turkish steel industry must confront, especially in the face of an energy crisis, high production costs, and inflation, which have added difficulties to steel manufacturing. Furthermore, the transition to carbon reduction processes is underway, and accessing non-fossil fuel energy at affordable prices is crucial for the Turkish steel industry to maintain global competitiveness. The President of the Union of Chambers and Commodity Exchanges of Turkey (TOBB) stated that the application of protective measures for steel products could allow the full utilization of domestic capacity, enhance export opportunities and contribute to reducing the steel industry's deficit. Additionally, it is seen as an opportunity to generate added value and provide additional employment within the country. Moreover, there is hope that Turkey's steel industry will regain its position as the largest steel producer in the Middle East, with strategic steps planned for 2024 and even stronger growth expected in 2025. Alongside these aspirations, Turkey's long-term goal is to catch up with South Korea and become the world's 6th-largest steel-producing country.