Turkey eyes export markets
The Turkish cement market appears to be on a course of recovery as the latest data indicates robust growth in the first quarter of 2016. However, to reach healthy capacity utilisation levels, particularly in view of any new capacity to come online, the country’s cement producers will continue to rely on solid export sales, which have seen a fall in recent times. By Turkish Cement Manufacturers’ Association (TÇMB), Turkey.
As part of the global economy, Turkey lived with crisis, uncertainty and expectation in 2015. However, the fall in oil prices delivered a positive contribution. The country’s highly foreign oil-dependent economy saw its current account deficit contract and the resulting decrease in energy costs also delivered benefits to the cement industry. However, due to the currency devaluation of the Turkish lira against the US dollar and the euro, cement producers had not felt that the economic tide was turning sufficiently.