Turkiye’s crude steel production increased by 4.1% in October compared to the same month last year, reaching 3 million tons.
Turkish Steel Producers Association (TCUD) announced crude steel production, consumption and foreign trade data for October.
Accordingly, crude steel production was calculated as 3 million tons in October, with an increase of 4.1% compared to the same month of the previous year.
The production in question decreased by 8.8% to 27.5 million tons in the January-October period.
Finished product consumption increased by 4% in October compared to the same month of the previous year, reaching 2.9 million tons, and in the January-October period, increased by 17.1%, reaching 31.9 million tons.
Foreign trade data
In October, exports of steel products decreased by 3.9% in quantity to 1.1 million tons compared to the same month of the previous year, and decreased by 8.2% in value to $780.2 million.
In the January-October period, compared to the same period of 2022, exports amounted to 8.5 million tons, with a 36.4% decrease in quantity, and $6.9 billion, with a 44.7% decrease in value.
Imports of steel products increased by 3.1% in quantity to 1.2 million tons and decreased by 5.2% in value to $1 billion, compared to the same month last year.
In the January-October period, compared to the same period of 2022, imports were recorded as 14.8 million tons with an increase of 18.8% in terms of quantity and $12.7 billion with a decrease of 5.2% in terms of value.
The export-import coverage ratio, which was 92.7% in the January-October period last year, decreased to 54% in the same period this year.
Source: Trthaber / Prepared by Irem Yildiz