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Russia's invasion of Ukraine has roiled global metal markets, with Turkey's steelmakers rushing to ramp up production and boost their exports. (Source photos by Turkey Steel Producers Association and Reuters) 
Business Spotlight

Turkey's steelmakers grab for market share from China, Russia, Ukraine

Industry sets expansion plan to capitalize on global disruption

SINAN TAVSAN, Nikkei staff writer | Turkey

ISTANBUL -- Turkey's steel industry is making a grab for a bigger share of the global market as China holds back production to cut emissions and Russia's invasion of Ukraine mires two other key rivals in conflict.

Turkish steelmakers pushed production and exports to record levels in 2021 and are further expanding capacity this year, in what could prove a test of the unconventional economic policies being pursued by the government of President Recep Tayyip Erdogan. The dramatic devaluation of the lira, while increasing raw materials costs for steelmakers, has boosted the competitiveness of the country's exports.

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