At the EUROMETAL Steel Day and YISAD Flat Steel Conference, which took place at the Marriott Hotel Asia in Istanbul on Tuesday, April 8, in cooperation with SteelOrbis and gathered about 400 participants, Laurent Taylor, Senior trader at Manuchar Steel, shared official statistics on steel trade between the EU and Turkey, as well as his opinion on the strategic the importance of this direction. trade cooperation.
Starting his speech by mentioning the historical development of trade between Turkey and the EU, Mr. Taylor said that for more than 60-65 years there has been a strong partnership between these markets. "Today, the trade turnover in these two regions amounts to 206 billion euros.
The total volume of global trade in goods in 2024 will amount to 25 trillion euros, which is more than 8%. Turkey is Europe's fifth largest trading partner. On the other hand, Europe is Turkey's main export and import partner. Over the past 10 years, the volume of trade has also increased by 80 percent," he said.
3p3p366. 3p3p349. Commenting on the transition from globalization to regionalization, a representative of Manuchar Steel said that over the past 40 years, the Asian end-user market has not been mature, and low labor costs have stimulated production in the East.However, the Asian end-user market has grown dramatically, the cost of labor in the region is no longer cheap, and logistical problems such as the blockade of the Suez Canal and the terrorist attacks on the Red Sea have seriously affected global trade. "If we look at the world today, we will see that we are not where we were 30-40 years ago.
Low labor costs have disappeared, we have much more barriers and logistical problems, which make ships make round trips and make everything more complicated. So, following globalization, we notice regionalization. This is not about one single country like the United States," Taylor said.
He stressed that Turkey occupies a strategic position that allows it to benefit from the trend of regionalization, while Turkish steel mills will certainly gain a competitive advantage, given the high quality of their scrap products.
Mr. Taylor said that 60% of EU scrap metal exports account for just over half of Turkish scrap metal imports. "This highlights the importance of each side to the other. Looking at trade between Europe and Turkey, it can be said that both sides benefit from each other.
Europe is a key supplier of raw materials, as well as a good market for finished steel products. Global political instability has now increased further due to Donald Trump.
We see that regional proximity is becoming more and more
