Metal stagnation expected to last another 8 months

Metal stagnation expected to last another 8 months

Çetin Tecdelioğlu, chairman of the board of directors of the Istanbul Ferrous and Non-Ferrous Metal Exporters Association (IDDMİB), said about the stagnation of the metal industry: “I believe that the stagnation will disappear in the last quarter of 2024 and the demands increase again in the third and fourth quarters”.

Tecdelioğlu stated that it is necessary to be competitive to gain a larger share of the global market in 2024 and that competition has a direct effect on exports.

Noting that there is growth in general trade, but there is a decline in the metal sector, Tecdelioğlu explained that they are constantly working at fairs and VIP purchasing delegations under the auspices of relevant ministries and the union to eliminate the decline.

Tecdelioğlu emphasized that they will continue to work without reducing their exports and said: “Unfortunately, we do not foresee significant growth in both the domestic market and abroad in the 2024 projection because strict monetary policies and inflationary environment continue in the world, and due Due to the high interest rates announced by the European Central Bank and the Federal Reserve, commodity prices and domestic market prices are currently falling.” “Unfortunately, demand is stagnant and there will be no rapid growth.” he made the assessment of it.


Noting that within the scope of these developments, the metal market expects a small percentage increase in the global market, but they increased their capacity by making significant investments in 2021-2022, Tecdelioğlu said that they managed to gain significant shares of the global market. .

Tecdelioğlu noted that the changing and developing technologies and the changes experienced after the pandemic have an impact on the sector in terms of product diversity, saying: “By providing this product diversity quickly, we provide products to more than 50 countries to “We will continue our work,” he said.


Stating that they closed last year with 14.4 billion dollars of exports and will complete 2023 with 13.2 billion dollars, Tecdelioğlu continued as follows:

“Our goal is to reach $14.4 billion in 2024, equivalent to 2022. I predict that if we reach the 2022 figure, this will be a success for us. I hope it is higher, this is our minimum number. Of course, the world should provide this opportunity, wars should provide opportunities, Turkey should be a player in the world’s demands on a global scale and Turkey should be able to create opportunities here with free trade agreements.”


Tecdelioğlu emphasized that he expects the stagnation of the metal industry to end within 8 months and that he believes that the stagnation will end in the last quarter of 2024.

Tecdelioğlu stated that he believes that demands will increase again in the third and fourth quarters of next year: “Because people have time for postponed demands. These demands will become needs and purchases. No matter how long you delay, there will come a day when your needs will be met. “I expect it to end in the next 8 months and increase in the third and fourth quarter of 2024.” he said. (AA)

Source: Sozcu


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