BMI expects the Turkish metals sector to continue on its positive trajectory after performing well in the face of external headwinds over the past few years. We forecast healthy growth in the construction and autos industries boosting domestic demand for Turkish steel. Steady growth of steel exports is also to be expected as construction continues to grow in the Middle East. Downside risks to our forecast include subdued demand from EU states, depreciation of the Turkish lira raising production costs, political unrest in the country and a global weakening of steel prices. Despite strong growth in 2011 and 2012, H113 …
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