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The Turkish devaluation of the national currency affects the export of steel

19 February 2014
The Turkish devaluation of the national currency affects the export of steel

The unrest in the economic case sooner or later affect the metal stock market. A similar rule have long since learned the key manufacturers of metal on almost all continents. Now unpleasant surprise for the Turkish suppliers steel. Because the volatility state of the exchange rate threatens the most unpleasant impact on the country’s steel industry. When fluctuations in the economic case has led to fever in the stock market, it did not fail immediately reflected in the cost of steel products. Moreover, such incidents have rocked Turkey when the European and American economy only beginning to recover from the previous long period of decline.

Against the background of falling exchange indices around the world at a distinct disadvantage was the economic stability of the countries of the developing type, which include Turkey. After the fall of the rate of equivalent expressions of the Turkish Lira exports have become significantly cheaper, leading to quite serious consequences for producers of such goods. Add gravity to the situation and political unrest in the country. Political unrest due to the rather serious allegations of corruption by some government officials. Despite the fact that the fall in scrap metal prices did lower the cost of finished steel has led to its greater affordability for the buyer, to stabilize the situation this fact is not under force. Because most of the immediate Eastern neighbors of Turkey prefer steel product made in Japan or China, but also Korea and India. Therefore, even on the background of increased demand in the Eastern sector for rolled steel and its derivatives, which has grown considerably in the winter months, the Turkish economy is experiencing not the best times. Add other manufacturers in the East who offer their goods at a lower price, thereby further reducing the demand for Turkish products. However, despite such significant challenges in the past year, Turkey has been a leader in the export of rebar. This position the country intends to build on now. A similar example is quite a vivid demonstration of the strong ties between the political and economic stability, which goes hand in hand with well-being and prosperity of the people.

18 February 2014
24 February 2014