1. A Market Analysis by Melda Alaluf The Steel Market in Turkey

2. Current Steel Market in Turkey Determinants of Demand: -Price of Substitute Goods (Aluminum or copper) -Tastes and preferences (most preferred construction material) Determinants of Supply: -Productivity (Skilled steel industry workforce) -Government Intervention (GITES Action Plan) - Supply Shock (weather conditions have been ideal, unlike U.S.)

3. Predicted Steel Market in Turkey Determinants of Demand: -Consumers’ income (increasing after global crisis ended in 2009) -Derived demand (Automotive industry/infrastructure) Determinants of Supply: -Cost of Production (rising raw material costs) -High Import Ratio (imports from China reach 2.25 million)

4. Works Cited Gönültas, Bahattin. "Rising Chinese Steel Imports Hurt Turkish Market: Producers.”Anadolu Agency. Anadolu Press, 11 May 2015. Web. 5 Oct. 2015..http://www.aa.com.tr/ en/turkey/rising-chinese-steel-imports-hurt-turkish-market-producers/48635 Kurtaran, Gökhan. "Rise in Turkey's Iron, Steel Export Volume Dependent on Price Hike.” Hurriyet Daily News. Hurriyet, 27 Jan. 2011. Web. 5 Oct. 2015..http:// www.hurriyetdailynews.com/default.aspx?pageid=438&n=rise-in-iron--steel- exports-volume-dependent-on-price-hike-2011-01-27 Turkey. Investment Support and Promotion Agency. Republic of Turkey Prime Ministry. The Iron and Steel Industry in Turkey. Invest in Turkey, Dec. 2013. Web. 5 Oct. 2015..http://www.invest.gov.tr/en-US/infocenter/publications/Documents/IRON- STEEL-INDUSTRY.pdf