Press Release February 2026
STEEL PRODUCTION
In February 2026, Turkey's crude steel production increased by 3.4% compared to the same month last year, reaching 3 million tons. In the first two months of the year, production increased by 4.7% to 6.4 million tons.
STEEL CONSUMPTION
Final product consumption in February 2026 reached 3.2 million tons, an increase of 11.3% compared to the same month in 2025. In the first two months of the year, final product consumption increased by 4.1% to 6.7 million tons.
FOREIGN TRADE
Export
In February 2026, steel product exports decreased by 8.6% in quantity to 1.1 million tons and by 9.2% in value to 714.8 million dollars compared to the same month in 2025. In the first two months of the year, steel product exports decreased by 13.5% in quantity to 2 million tons and by 15.2% in value to 1.3 billion dollars compared to the same period in 2025.
Import
In February 2026, steel product imports increased by 9% in quantity to 1.5 million tons and by 7.2% in value to 1 billion dollars compared to the same month in 2025. In the first two months of the year, steel product imports decreased by 10.8% in quantity to 2.7 million tons and by 11.7% in value to 1.9 billion dollars compared to the same period in 2025.
Foreign Trade Balance
The export-to-import ratio decreased from 72.5% to 69.7% in the first two months of 2026 compared to the same period last year.
WORLD STEEL PRODUCTION
According to the February 2026 data announced by the World Steel Association (worldsteel), global crude steel production decreased by 2.2% to 141.8 million tons compared to the same month last year, and by 1.5% to 298.2 million tons compared to the January-February period of last year. In the first two months of 2026, China's crude steel production decreased by 3.6% to 160.3 million tons compared to the same period last year. India's crude steel production, which ranks second, increased by 9.7% to 28.9 million tons, while the US production increased by 4.9% to 13.6 million tons.
EVALUATION
Turkey achieved a 4.7% increase in crude steel production in the first two months of 2026, reaching 6.4 million tons and maintaining its 7th position in the world production ranking. On the other hand, domestic steel consumption continued its upward trend, increasing by 4.1% to 6.7 million tons in the first two months of the year. The weakening trend observed in exports to the European Union was noteworthy. Concerns increased about a further deepening of this decline before the new safeguard measures expected to come into effect on July 1. In the first two months of the year, our exports to the EU decreased by 36% to 540.5 thousand tons. Similarly, in the Middle East region, Turkey's second-largest export market, dramatic declines in demand occurred due to geopolitical risks and economic slowdown, and our exports to the region decreased by 38% to 278.7 thousand tons. Although the limited increases in exports to South America and CIS countries presented a positive outlook in terms of market diversification, the losses in the main export markets could not be compensated. As a result, the 13.5% contraction in total exports could not be prevented. Especially the weakness in demand in the main markets, price pressure, and increasing trade measures limited the impact of the increase in alternative markets. Steel product imports, on the other hand, decreased by 10.8% to 2.7 million tons in the same period. However, despite this decline, the high level of imports and the losses in exports continued to expand the foreign trade deficit. The trend of restructuring Europe's supply security, integrating Turkey more into the "Made in Europe" approach, presents an opportunity for the Turkish industry. However, the increasing geopolitical risks caused by the Iran-Israel, US war negatively affect world trade and, in the meantime, steel trade. It is evaluated that Turkey's non-involvement in the war and its initiatives towards peace will contribute to minimizing the negative effects of the war on the Turkish economy and steel sector.