A Market Analysis by Melda Alaluf

The Steel Market in Turkey

Current Steel Market in TurkeyDeterminants of Demand:- Price of Substitute

Goods (Aluminum or copper)

- Tastes and preferences (most preferred construction material)

Determinants of Supply:- Productivity (Skilled

steel industry workforce)

- Government Intervention (GITES Action Plan)

- Supply Shock (weather conditions have been ideal, unlike U.S.)

Predicted Steel Market in TurkeyDeterminants of Demand:- Consumers’ income

(increasing after global crisis ended in 2009)

- Derived demand (Automotive industry/infrastructure)

Determinants of Supply:- Cost of Production

(rising raw material costs)

- High Import Ratio (imports from China reach 2.25 million)

Works CitedGönültas, Bahattin. "Rising Chinese Steel Imports Hurt Turkish Market: Producers.”Anadolu Agency. Anadolu Press, 11 May 2015. Web. 5 Oct. 2015. <http://www.aa.com.tr/en/turkey/rising-chinese-steel-imports-hurt-turkish-market-producers/48635>. Kurtaran, Gökhan. "Rise in Turkey's Iron, Steel Export Volume Dependent on Price Hike.”

Hurriyet Daily News. Hurriyet, 27 Jan. 2011. Web. 5 Oct. 2015. <http://www.hurriyetdailynews.com/default.aspx?pageid=438&n=rise-in-iron--steel-exports-volume-dependent-on-price-hike-2011-01-27>. Turkey. Investment Support and Promotion Agency. Republic of Turkey Prime Ministry. The

Iron and Steel Industry in Turkey. Invest in Turkey, Dec. 2013. Web. 5 Oct. 2015.<http://www.invest.gov.tr/en-US/infocenter/publications/Documents/

IRON-STEEL-INDUSTRY.pdf>.