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MRS Steel has detailed a comparison of steel vs stainless steel, including properties, applications, costs and many other important factors.Stainless steel and steel are alloy steels with unique strengths and applications. Understanding the difference between these two types of steel is fundamental to choosing the right material for the project. The difference between steel and stainless steel lies in their composition and propertiesGeneral introduction to steel vs stainless steelsSteel is an alloy of iron and carbon, combined with a number of other elements such as nickel, molybdenum, manganese, titanium,... to determine the mechanical properties. Steel is a metallic material so it has metallic luster, strong electrical and thermal conductivity. At temperatures of 500-600 degrees Celsius, steel becomes ductile and its strength decreases. At -45 degrees Celsius, steel is brittle and prone to cracking.Stainless steel is also a type of alloy steel commonly used in life. The difference is that they have a minimum chromium content of 10.5 wt% and a maximum of 1.2 wt% carbon. Thanks to this special composition, stainless steel has outstanding resistance to corrosion and rust.Stainless steel is generally stronger than conventional steel in various applications due to its unique composition and propertiesLearn about the difference in properties of steel and stainless steelSteel vs. stainless can be based on the features in property of steel below:Corrosion resistanceCompared to conventional steel, stainless steel has superior corrosion resistance thanks to its 10.5% chromium content. When exposed to outside air, chromium creates a layer of chromium oxide (III) that cannot be seen with the naked eye, so the surface of stainless steel is always shiny. Molybdenum in stainless steel is also highly resistant to corrosion, even in acidic environments.StrengthIs stainless steel stronger than steel? Steel is a material with high tensile strength ranging from 400 - 1882 MPa, good bearing capacity. Meanwhile, the tensile strength of stainless steel is about 518-827 MPa, with standard strength, heat resistance and hardness.Therefore, while stainless steel can be strong in some applications, high-carbon steel can have a higher tensile strength than some types of stainless steel.DuctilityThe carbon content in steel is no more than 2.14% by weight. The more carbon in steel, the higher the hardness and durability of the steel. While stainless steel only has a maximum of 1.2 wt% carbon, it is more flexible and easier to shape than conventional steel.AppearanceStainless steel has a high chromium content, so it has a smooth, shiny appearance. For applications requiring high aesthetics, stainless steel is a more ideal material than conventional steel.MagnetismUsually people still think that stainless steel is a non-magnetic or non-magnetic material. In fact, the structure of the metal will determine whether stainless steel is magnetic or not. Of the 4 groups of stainless steel, only the Austenitic group is non-magnetic and the remaining 3 groups are all magnetic. Therefore, if the stainless steel you are using belongs to the magnetic Martensitic, Ferritic or Duplex groups, then when tested with a magnet, the steel will still be attracted like ferromagnetic materials.What is the difference between steel and stainless steel?Steel vs stainless steel: which is the better cost?The input materials of steel are mainly iron, carbon and some other chemical elements, while the chromium content in stainless steel is very high, further increasing the cost. The steel production process is also simpler than stainless steel, optimizing energy and labor costs. In addition, processing and manufacturing stainless steel requires high expertise and complexity, leading to the price of finished stainless steel being more expensive than steel products.How is the difference between the applications of steel vs stainless steelStainless steel stands out with its resistance to corrosion, rust and extremely high aesthetics, so it can work in many harsh environments such as the petrochemical field, aerospace, marine,... Stainless steel does not contain chemicals harmful to users' health, so it is an ideal material for use in the medical and food industries.Meanwhile, steel has high mechanical properties, has many different types and uses, so it is applied in a variety of industries such as construction, mechanics, shipbuilding,...Conclusion on the most distinctive differencesFactorsSteelStainless steelKey raw materialsMade of iron, carbon and some other metalsMade of iron, chromium and some other metals.StrengthHigh tensile strength, susceptible to corrosion and rust in natural conditions, low heat resistanceLower tensile strength, easy to shape, extremely good resistance to corrosion and rust.ApplicationUsed in civil construction, equipment, automobile components,...Used in the fields of medicine, food, furniture, chemicals,...MRS Steel - Bringing the best Vietnamese steel import experienceOnce one of the smallest economies in Southeast Asia, Vietnam has now become leading economic markets in the world, especially in the field of metal import and export. According to Worldsteel 2023 statistics, Vietnam ranked 12th in the world's largest crude steel output with 19 million tons. Many Vietnamese steel enterprises are also in the top 100 largest steel enterprises in the world such as Hoa Phat, Formosa,... Although Vietnam advocates creating many favorable conditions for export, there are still many complex policies, procedures and customs processes that make foreign importers confused and difficult. In addition, how to find a reputable and quality source of Vietnamese steel is also a big problem for importers.All will be thoroughly resolved if you choose MRS Steel as your import support partner. MRS Steel has more than 12 years of experience in the field of sourcing and supporting customers importing Vietnamese steel from the largest mills. MRS Steel has a team of experienced experts who will answer and advise on issues to help you have the most optimal import plan.Steel and stainless steel are both the most popular types of steel in the world that help solve material problems in construction. Hopefully this article on the topic of steel vs stainless steel from MRS Steel has helped you understand the characteristics, strengths and applications of both types. Don't forget to contact MRS Steel to ask questions about the Vietnamese products and steel market!

Having appeared since ancient times with crude and simple products, the steel industrial revolution has opened a cycle of outstanding development in the steel industry. With new roles such as helping to shape human life, participating in all current fields, and contributing to revolutionizing industries.However, not everyone knows about the development history of this industrial revolution. MRS Steel sends you information about this revolution in the article below!The steel industrial revolution is a step in the development of human civilizationWhen did the steel industrial revolution begin?When was steel first made? Steel was first manufactured in ancient times, but in this period, the steel industry was located in places with raw materials, electricity, and running water to facilitate the production process. However, it was not until the 1850s that the history of the steel industry began to develop. In 1857, thanks to the development of the Bessemer converter by Henry Bessemer, steel was mass produced. Since then, steel has become a staple of the world's industrial economy and soon replaced iron in the construction industry.The steel industrial revolution marked a leap forward in the history of human civilization. The flexibility and sturdiness of steel today is not only used in construction but is also commonly used in many other industries.What was steel used for in the industrial revolutionThe steel industry has opened new doors for human civilization. The steel history timeline has marked the development of the world economy. With its advantages and versatility, steel is used in many different industries. Below are some applications of steel in the industrial revolution.Steel is widely used in construction architecture. After gradually changing iron in the construction process, steel seems to open a new era of skyscrapers and modern architectural works. Iconic skyscrapers represent famous architectural works today, such as the Eiffel Tower, Burj Khalifa in Dubai, Shanghai Tower in China, and Lotte World Tower in Korea. It's all a testament to the transformative power of steel in building architecture.Eiffel Tower - A famous structure made of steelSteel is used in transportation The steel industrial revolution plays a huge role in the development of transportation infrastructure. The advent of the railway industry saw a transformation with the widespread adoption of steel rails, allowing trains to travel at higher speeds and carry heavier loads. Besides, steel also contributed to the construction of iconic steel bridges, including the Brooklyn Bridge and the Golden Gate Bridge. These are two bridges that demonstrate the outstanding strength of steel in building modern transportation routes. In addition, steel in the industrial revolution was also used to build ships, cars, and aircraft.Steel and industrialization The steel industrial revolution ushered in a new civilization in human history, and steel played a central role in driving this enormous change. Steel is associated with the industrialization process as it gradually replaces iron to become the main component in the construction process. Thanks to Henry Bessemer's Bessemer converter, the history of the steel industry reached new heights by revolutionizing production processes and increasing productivity on an unprecedented scale. Steel has had a great impact on the industrialization process, contributing to promoting economic growth.Steel in daily life Steel is widely used in daily life; household appliances, furniture, tables, chairs,... all have the appearance of steel; they help our lives. We become more modern and aesthetic. Steel's ubiquity in everyday life speaks to its invaluable role in shaping modern society.Steel is used to make household appliancesChallenges and innovations in the steel industrySteel production is one of the core industries of the global economy. However, like any other industry, the steel industry is facing challenges and innovations in steel production.Fluctuating market conditions In fact, the steel industry has passed through the development stage and is in a period of saturation when facing volatile market conditions. In the context of inflation and the global economic recession, steel prices continuously decrease, which reflects the difficult reality of the production and business of steel industry enterprises.Climate changeClimate change is one of the biggest challenges today. The steel industrial revolution led to mass production of steel, which in turn uses a lot of energy and produces large amounts of emissions. Reducing emissions and saving energy is one of the important requirements for this industry. This also requires steel manufacturing businesses to find ways to reduce emissions and increase sustainability in the production process.New technology When technology continuously changes and develops, it directly affects the steel production industry. This forces steel manufacturing businesses to keep up with new technology to improve product quality. However, along with new technology comes the cost of investing in production lines, which is also a big barrier for steel manufacturers.Future direction of the steel industryThe steel industrial revolution has brought the steel industry to develop dramatically, becoming a key sector of the world economy. Looking at the current situation of the iron ore market and steel industry, one of the future directions that the steel industry wants to aim for is the development of the green steel industry. When governments around the world introduce many new regulations as well as carbon taxes to improve the environment, green steel production is a goal that is both vital to the steel industry and contributes to limiting warming.Currently, many of the world's leading steel manufacturers have started producing green steel or have set goals in the next few decades to no longer use fossil fuels. Vietnam's steel industry also aims to be carbon-neutral by 2050. Green steel is not only a trend but also a necessary step to protect the environment and create a sustainable steel industry in the future.Green steel production is gradually becoming a trend in the futureMRS Steel - The future of Vietnam's steel industryIn recent years, Vietnam has grown to become one of the world's major crude steel production powers. In 2023, Vietnam will produce nearly 19.2 million tons of crude steel, of which exports will reach nearly 1.8 million tons, 1.4 times higher than in 2022. In the past year, MRS Steel has also been a unit with significant contributions. We contribute to the growth of the steel industry's export market share when we continuously help steel mills in Vietnam export steel to countries around the world.With many years of operation in the steel field, we have provided customers with quality steel products from reputable brands such as Hoa Phat, Ton Dong A, Hoa Sen, Tay Nam,... Many customers have chosen MRS Steel to import steel from Vietnam. If you want to buy steel originating from Vietnam, please contact us for support.Above is the information that MRS Steel has brought to you about the steel industrial revolution. This revolution has brought humanity to a new civilization. Contact us today for free consultation and the best quote for all your steel needs!

The importance and significance of steel in today's world cannot be denied. Steel is considered the spine of a modern, civilized, and progressive society. But when was steel invented? How is the development process?In the article below, MRS Steel will help you learn about the history of the formation and development of the steel industry.When was steel invented? Let's find out belowWhen was steel invented?It is difficult to have an exact answer to the question “When was steel invented?” Many people think steel appeared at the beginning of the industrial revolution, but it appeared a long time ago. After the Iron Age, from the 13th century BC, steel was invented by heating iron in a hot fire, at which point the iron would become harder and stronger. Since then, people have found traces of steel in many different cultures and territories around the world, and usually only a few shapes of steel are made for use in everyday life.However, the early invention of steel had a wide range of carbon in the metal, from less than 0.1% (low carbon steel) to 1% (high carbon steel), which could lead to steel with a higher carbon content being very brittle. This brittleness can be reduced by tempering the steel, which is a form of heat treatment that was used in Egypt as early as 900 BC.Later, in the mid-1850s, Henry Bessemer, the British inventor first created a method to produce steel in large quantities. Since then, steel has been produced based on the Bessemer process. The operating principle of this process is to heat iron ore and other chemicals, then blow oxygen into the blast furnace to separate impurities from the metal mixture. This method is similar to the steel production method we are using today.Bessemer steel making processUntil now, the creation of steel was essential to human life. Steel is always ahead of the game and is commonly used in construction and many different industries. There are a number of reasons for this, from the variety of shapes it can be formed into to its relatively low strength and weight compared to other metals.Development stages of the steel industryTo continue answering the question, when was steel invented? What is the development history of steel? Let's study the development stages of the steel industry below.Early stageThe steel industry began to form in the late 19th century under the leadership of two leading developed countries, China and India. During this period, the steel industry was often produced manually, by forging or hand casting. This is the initial stage of the steel industry, when production methods have not been automated and the production scale is still small.In 1856, the birth of the Bessemer furnace helped steel production happen faster with cheap costs and large output. By 1865, Andrew Carnegie brought the Bessemer process to America, and from then on, America suddenly rose to the top of the steel industry.Historical period that saw a rise in steel makingAfter its infancy, the steel industry experienced a period of strong growth. During this period, steel production technology was improved, production processes were automated, and production scale increased. This leads to increased productivity, reduced production costs, and increased competitiveness in the steel industry. This is also considered a historical period that witnessed an increase in steel making.Steelmaking by BOF blast furnaceAt the beginning of the 20th century (1970s), many wars occurred. Leading to increased demand for steel to serve the needs of manufacturing and producing weapons and tanks. Western countries entered the stage of industrialization and modernization. Since then, the demand for steel has increased dramatically to serve the construction of infrastructure projects and buildings. From here, the appearance of "Oxygen Blowing Furnace (BOF)" and "Electrical Arc (EAF)" technology has created a major turning point for the development of the steel industry.Saturation phaseAfter going through a historical period that witnessed an increase in steelmaking, the steel industry entered a period of saturation (from the 1980s until now). During this period, the steel industry was able to balance supply and demand, and the growth rate gradually slowed down. Businesses in the industry are forced to expand their markets and seek new development opportunities to ensure continued growth and competition. However, the history of steel is still in the development stage, and we are aiming for more sustainable goals in the future.China currently dominates the global steel industryThe role of steel in today's lifeIt can be said that there is no field that does not use steel; steel is present almost everywhere. With the invention of steel and its durable and flexible properties, steel is known as an extremely important source of raw materials and is widely used in life, especially in the construction field. Below, let's learn about some of the roles of steel in today's life.The role of steel in constructionWith tough properties and the ability to be easily shaped at high temperatures. Steel invented has replaced iron, making it an indispensable material in the construction industry to increase the solidity and durability of projects. An important application of steel in construction is to use it to make reinforced concrete and house foundations, bringing stability to each project. In addition, steel is also used to build infrastructure, roads, public works, and transportation to serve the needs of the community. And until today's rapid development, there is still no material that can replace steel.The role of steel in everyday lifeBesides being an important element in construction, steel is also used in everyday life. From household products such as kitchen utensils and thermos bottles to interior decoration equipment such as tables, chairs, stairs,... With the invention of steel, people's lives have become easier, more modern and smarter.Household appliances are made of stainless steelMRS Steel - Vietnam's leading steel supplierAs one of the pioneers in exporting Vietnamese steel, MRS Steel is proud to always bring the best-quality steel products to customers. After more than 12 years of operation and development, we have left a strong mark in the hearts of many customers. Currently, to meet customers' needs, MRS Steel's steel products are distributed to all markets around the world with extremely preferential policies. Therefore, if you need to import quality steel products into the Vietnamese market, please contact us.Hopefully, MRS Steel has helped you answer the question “When was steel invented?” If you have any information that needs updating, please contact us for answers.

Carbon steel is steel made of iron and carbon with some other ingredients such as manganese, silicon, phosphorus,... Let's delve deeper into the characteristics, applications, and important aspects of this type of steel with MRS Steel.Carbon steel is among the top 4 most popular types of steel, used in many fields such as industry, manufacturing, civil use,... because of its flexibility and hardness.The more carbon in the steel, the higher the hardness and durability of the steel, in which carbon steel components can contain up to 2.1 wt.% carbon. The relatively low production cost of carbon steel makes it more preferred over other types of steel. Below, MRS Steel will explore with you the pros and corn, production methods and applications of carbon steel.Carbon steel is steel made of carbon along with other elementsWhat are the different types of carbon steel?Carbon steel is categorized into three types based on its carbon content:Low carbon steelLow carbon steel has a carbon ratio of 0.04 - 0.25% or 0.29% with small amounts of other elements. Therefore, steel has low hardness and durability, so it is also called mild steel. However, they exhibit good ductility and can be easily shaped by pressing or bending, even when cold-formed.Medium carbon steelMedium carbon steels with average carbon content (0.25 - 0.5%), providing good corrosion resistance and high durability. Medium carbon steel has good heat treatment and cutting performance but poor welding performance, requiring preheating in welding. This type of steel is mainly used in high-strength moving parts such as air compressors, pump pistons, turbine blades, gears, crankshafts, rollers,...High carbon steelThanks to the carbon content of 0.6 - 2%, high carbon steel has good bearing capacity and high durability. The hardness of this steel can be up to 60 - 65 HRC according to Rockwell C. High carbon steel is mainly used in the production of springs, wear parts and high-hardness tools.Each type of carbon steel exhibits unique properties and applicationsWhat is carbon steel made ofCarbon steel is primarily made up of iron and carbon, combined with a number of other ingredients such as manganese, silicon, phosphorus,... In which, the carbon content determines the mechanical properties and durability of the steel. If the amount of carbon is low, the plasticity is high, convenient for shaping, bending and vice versa. However, the hardness and brittleness of the product depends on the metallurgy and heat treatment process. The carbon ratio can range from 0.02 - 2.1% depending on the amount of steel but the common ratio is 0.1 - 0.3%.Pros and cons of carbon steelAdvantagesEach carbon steel type has unique mechanical properties when undergoing metallurgy and heat treatment. Manufacturers can adjust technical parameters to create outstanding advantages for carbon steels as follows:High durability and hardness: High carbon content enhances the steel's bearing capacity and resists environmental impacts.Corrosion resistance: Carbon steel has extremely good corrosion resistance, so it is often used in the chemical, petroleum and marine industries.Good bending and melting ability: The amount of carbon can be easily customized to help the steel have flexibility for shaping, which is crucial in manufacturing and construction processes.DisadvantagesCarbon steel still have some disadvantages such as:Easy to rust: Manufacturers often add about 10-12% chromium to the composition, which acts as a moisture-proof layer to help limit rust when exposed to the environment.Poor aesthetics: Carbon steel lacks the smooth, shiny surface like stainless steel. Therefore, they are often applied to products that do not require high aesthetics such as pipes, machinery, spare parts,...Carbon steel strength helps it be applied in many areas of lifeHow is carbon steel madeCarbon steel can be produced from iron ore, scrap steel or a combination of both without losing its properties and strength. By heating iron ore and coke in the absence of air at a temperature of about 1650 degrees Celsius, the molten iron is enriched in carbon from the burning coke. The remaining impurities combine with lime to form slag, which floats on the metal surface to be removed. The product initially contains approximately 4% carbon, which is then decarbonized to reduce it to the desired level. Decarbonization occurs by passing oxygen through the melt forming monoxide and carbon dioxide.Applications of carbon steelsPossessing many outstanding properties, carbon steel is a material widely used in many different industries, typically:Road and bridge construction: Carbon steel has good corrosion resistance and high durability, suitable for building infrastructure such as roads, bridges, buildings, tunnels,...Automobile industry: Carbon steel is an ideal material for car parts such as vehicle frames, wings, hoods, exhaust pipes,... because of its high hardness, lightness and durable structure that helps reduce weight and increase space efficiency for vehicles.Aerospace industry: With its lightweight properties and outstanding mechanical strength, carbon steel is used in the production of aircraft components, spacecraft bodies and rockets.Oil and gas industry: Carbon steels are used to produce equipment and oil pipes thanks to its good bearing capacity. This will ensure the safety and performance of pipeline systems under the harsh conditions of the oil and gas industry.Manufacturing and machinery industry: Carbon steel has ductility and flexible shaping, so it is suitable for processing and producing machine parts such as shafts, bearings, gears,...Carbon steel's resilience makes it ideal for infrastructure, vehicles, and machineryImport the best quality Vietnamese carbon steel at MRS SteelAccording to Worldsteel, Vietnam ranked 12th in the world in crude steel output with 19 million tons in 2023 and belongs to the group of steel exporting countries with a turnover of over 10 billion USD. Vietnam is increasingly enhancing its position in the steel export sector. This has opened up many opportunities for steel importers to have more quality supply at good prices.Although Vietnam always creates conditions to promote international trade exchange, many complex policies, regulations and procedures can make it difficult for importers. MRS Steel is a unit sourcing and supporting the import of Vietnamese steel to the United States, Australia, Mexico, Europe, Belgium, Malaysia, Indonesia,...The network connecting the largest steel manufacturers in Vietnam, understanding the customs clearance process and handling incidents, problems,... are advantages that help MRS Steel satisfy 100% of customers throughout 12 years of operation. We always strive to bring satisfaction to importers through optimizing purchasing costs, time and effort.Carbon steel are an important material with high applicability in life. Therefore, choosing the correct type of steel suitable for the project greatly contributes to the effectiveness of the project. If you have any questions or need to import reputable Vietnamese carbon steel, please contact MRS Steel for the best support!

Stainless steel is one of the most popular materials in construction and civil manufacturing fields. Because of its durability and higher aesthetic properties compared to most other materials, the stainless steel production process is also quite complicated.History of stainless steelStainless steel is closely associated with the name of a British steel industry expert - Harry Brearley. He invented a special type of steel that has strong resistance to corrosion and rust by adjusting the Carbon and Chromium content appropriately.During the production process, Harry Brearley researched and added 8% Ni and 18% Chromium, successfully creating the 304 stainless steel grade that is very popular today. Because of its outstanding strength, stainless steel is widely used in many industrial and civil sectors.Understanding the stainless steel production processThe preparation of raw materials is the first factor that determines the success of the stainless steel production process. The elements iron, chromium, carbon, manganese,... are processed to remove impurities, ready for the next steps.Melting and castingSteel and alloy metals are added to an electric arc furnace and melted at temperatures above 2800 degrees F for continuously 8 -12 hours so that the metal completely turns into liquid. During the melting process, experts must regularly check the temperature and chemical composition so that the finished products are as desired.After completely melting the metal, the liquid mixture is crystallized with argon and oxygen to remove impurities such as sulfur, excess carbon and slag.To increase product applicability, refined steel is cast into billets, plates, bars,... or different shapes to suit all applications.FormingMost cast steel is shaped by hot rolling into sheet form while the billet is heated and rolled through a large roller to form steel plates, strips or bars.In addition to hot rolling, billets can also be cold rolled to form custom-sized steel blocks. Cold rolling typically uses small diameter wheels to produce a smooth, shiny surface with the smallest tolerances.Heat treatmentStainless steel is heat treated by heating and cooling under controlled conditions to relieve internal stress and soften the stainless steel. However, this stage requires strict control of the annealing temperature to ensure the quality of the stainless steel interior.DescalingAfter annealing and rolling, stainless steel still has a layer of oxidized residue on the surface. The factory needs to clean off the residue to restore the shiny surface of stainless steel. Currently, nitric acid and hydrofluoric acid are the most popular descaling agents. In addition, the electrolytic method is also used to remove residue from the surface.Stainless Steel TemperingThe purpose of heat treatment of steel is to increase the hardness and durability of the material. After annealing, stainless steel tends to become softer. When tempering steel, factories often use water because of its low cost and quick cooling effect. First, experts heat the material to about 815 - 900 degrees Celsius, then transfer the alloy to a water bath to suddenly reduce the temperature, maximizing hardness and durability.Cutting and machiningAfter the above processing steps, stainless steel is almost complete and can be manufactured into various industrial applications. In this step, the factory can cut and process steel into different shapes and sizes by cutting, sawing or techniques such as plasma, high pressure water jet,...Surface finishingStainless steel is famous for its high aesthetics and outstanding corrosion resistance, ease of cleaning and high applicability. To achieve these properties, stainless steel needs to be surface finished by annealing, hot rolling, cold rolling, grinding, polishing, sandblasting,...Methods of controlling stainless steel quality after productionAfter production, stainless steel needs to undergo a number of quality tests before being distributed to the market.Mechanical testMechanical testing measures the physical capabilities of stainless steel such as load-bearing capacity, stress, tensile strength, Brinell, toughness,...Chemical testingChemical testing aims to check whether the chemical properties of stainless steel meet standards through spectroscopic analysis. Besides, factories also test and measure the corrosion resistance level of materials by spraying salt water.If you have any questions or need to import Vietnamese steel, please contact MRS Steel via Email: vanloc@mrssteel.com.vn or Hotline: +842836223358 for the most thoughtful support!

Türkiye is the 8th largest steel producer in the world and has surpassed Germany, leading in steel production in Europe. However, in the past two years, its steel production and exports output has continuously decreased due to global economic difficulties. However, Turkish steel companies continue to boost production capacity, promising an explosive growth in 2024.1. Türkiye's steel production situationAlthough Türkiye still maintains the 8th position in the ranking of the world's largest steel producers, 2023 marked the second consecutive year of decline in the steel industry. According to WorldSteel, Türkiye produced 33.7 million tons of steel (down 4% y/y) in 2023 and 35.1 million tons in 2022 (-12.9% y/y). The decline in steel production from 2022 to 2023 was due to macroeconomic instability and high inflation. The Turkish lira depreciated around 60% against the dollar in 2023 restricted steel imports and domestic steel consumption.Currently, most of the Turkish steel industry produces through electric arc furnace technology. In 2022, 71.5% of the domestic steel was produced from these furnaces, so the increase in electricity prices was also a factor that seriously affected the steel industry. According to the Confederation of Turkish Steelmakers (CIB), the sharp increase in electricity prices accounted for 27% of production costs compared to 8% in 2021.Other factors affecting steel production and consumption in Türkiye include the increase in VAT from 18% to 20%, leading to higher steel coil prices. The earthquake in February 2023 also negatively impacted the steel industry when 1/3 of factories were forced to suspend production.In 2023, coil steel consumption reached 38.1 million tons, an increase of 17.1% compared to 2022, leading to a 15.5% increase in steel imports compared to the same period in 2023  (According to the Turkish Steel Manufacturers Association (TCUD). 2. Türkiye's steel import and export situationTürkiye's steel exports in 2023 continued to decrease to 10.5 million tons, -30.6% y/y. Export revenue reached 8.3 billion USD, down 40.7% y/y. In 2022, steel exports only reached 15.1 million tons, down 23.5% over the same period last year.During January - November 2023 period, the EU imported an average of 199,000 tons of steel from Turkey per month. In 2022, Türkiye's imports of rolled steel products into Europe reached 4.33 million tons, accounting for 15% of the market share. Steel exports from Türkiye declined due to the following factors: High electricity prices in Türkiye reduce price competitiveness compared to other supply sources.The EU and US strengthen trade defense measures to protect domestic manufacturers against dumping. The US imposed a 25% tariff on Turkish steel products. Opportunities to export steel to the EU are limited by the quota system. In addition, the EU also applied anti-dumping duties on hot-rolled steel sheets imported from Türkiye.China increased exports of cheap steel due to a steel surplus. Russian suppliers offer low prices to attract importers. This negatively impacts prices and export opportunities of other countries.Thus, steel exports from Türkiye to the EU are decreasing. Manufacturers are losing price competition in the EU market. At the same time, Türkiye faces massive imports, forcing the government to take measures to protect the domestic market.In 2022, Türkiye imposed tariffs on hot rolled imports from the EU. In May 2023, import duties on some flat rolled products increased by an average of 7%, specifically hot rolled steel coils from 9% to 15%, cold rolled steel coils from 10% to 17%, steel coils from 9% to 15% and hot rolling alloy from 6% to 14%.Entering 2024, the trend of increasing trade protection is still going strong. In January, tariff rates on some flat-rolled products increased and continued to maintain tariff rates on imported rolled steel. In the near future, the government will also review anti-dumping measures on hot-rolled steel coils from China, Japan, India and the Russian Federation along with stainless steel pipes from China and Taiwan.3. Turkish steel industry outlook 2024Experts predict that the Turkish steel market will have many bright spots thanks to growing global steel demand. The World Steel Association forecasts that steel consumption in Türkiye will reach 40.6 million tons, an increase of 5% by 2024.According to the Turkish Steel Association (TCUD), steel output in January 2024 reached 3.2 million tons, up 24.7% over the same period and flat steel consumption increased by 33.6% over the same period. The figures for February are even more positive.Manufacturers Kardemir, Yıldız, Colakoglu Metalurji, Hasçelik have planned to invest millions of dollars to increase production capacity in 2024.Türkiye has a large and growing domestic market, so the future of the steel industry will be based on meeting domestic demand. In addition, Türkiye has deployed steel production technology from CBAM scrap, providing advantages for exporting to the EU market.