Union of Chambers and Commodity Exchanges of Turkey

TOBB Turkey Ferrous and Non-Ferrous Metals Council President Veysel Yayan said, “The speculation claims in written and visual media regarding iron and steel product price increases do not reflect reality.”

- “Increase caused by commodity markets was misinterpreted”

Yayan stating that the increasing iron and steel prices are determined in international markets and that many factors affect the price of iron and steel commodities’ prices such as; supply-demand balance, materials costs, energy, exchange rates and the production technology used and that the prices are developing parallel to those in the world in general.

- “Prices have already started decreasing”

Speaking about the “Developments in Construction Iron Prices and Solution Proposals for the Construction Sector” report made to the Customs and Commerce Minister Hayati Yazıcı, Veysel Yayan touched on the regression trend in the global markets which started in September. In the period between January 1st 2011 and November 1st 2011, the price increase in TL settled back to 5.4%, Yayan said, and that correct information should be disseminated to the public.

- Turkish iron and steel industry is the world’s 8th largest producer

TOBB Turkey Ferrous and Non-Ferrous Metals Council President Veysel Yaya stated that as of the 9th month, the Turkish iron and steel sector is the world 8th largest producer and a 12% increase in consumption can also be observed.

- Reclaiming dross

During the meeting a presentation on “Dross Produced in Ferrous – Non-Ferrous Metal Production and Its Reclamation” was also held.