Reuters reported that higher steel prices will raise sales revenues without boosting profits in the Q1 of 2010 as producers also face higher input costs.
Mr Veysel Yayan general secretary of the Steel Producers Union said that he expected total steel production in Turkey would rise 10% in 2010 as new capacity became operational.
Mr Yayan said that steel production for flat steel products would rise 50% to 1.5 million tonnes in the Q1. The upward trend in flat steel production is expected to contribute to the total steel production as a 10% boost.
He added that flat steel exports would rise 8% on the year to 0.5 million tonnes in the period and imports would rise 25% to 1.2 million tonnes.
Meanwhile, Mr Yayan said that Turkey is expected to become self sufficient in flat steel production by 2014 to 2015.
According to World Steel Association data, world steel production in 2009 totaled 1.2 billion tonnes a decrease of 8.1%. Turkey ranked tenth in the world with production of 25.3 million tonnes. Turkish flat, stainless and high quality steel production however is currently unable to meet domestic demand, so demand is mostly met from imports.