Turkiye’s crude steel production increased by 7.7% in July

Turkiye’s crude steel production increased by 7.7% in July compared to the same month of the previous year and became 2.9 million tons.

Turkiye’s crude steel production increased

• Turkish Steel Producers Association reported that Turkiye’s crude steel production increased for the first time in 14 months

Turkiye’s crude steel production increased by 7.7% in July compared to the same month of the previous year and became 2.9 million tons.

Turkish Steel Producers Association (TCUD) announced Turkiye’s crude steel production, consumption and foreign trade data for July.

Accordingly, crude steel production was calculated as 2.9 million tons in July with an increase of 7.7% compared to the same month of the previous year.

In the January-July period, the production in question decreased by 13,3% to 18,8 million tons.

Final product consumption was 3.4 million tons with an increase of 26.9% in July compared to the same month of the previous year, and 23.3 million tons with an increase of 17.1% in the January-July period.

Exports of steel products in July decreased to 851.7 thousand tons with a decrease of 27.4% in terms of quantity compared to the same month of the previous year, and to $675.5 million with a decrease of 40.2% in terms of value.

In the January-July period, compared to the same period of 2022, exports amounted to 5.3 million tons with a decrease of 44.2% in terms of quantity and $4.6 billion with a decrease of 51.1% in terms of value.

Steel products imports amounted to 1.5 million tons with an annual increase of 16.1% in terms of quantity and $1.4 billion with a decrease of 7.1% in terms of value.

In the January-July period, imports were recorded as 11 million tons with an increase of 22% in terms of quantity and $9.5 billion with a decrease of 4.7% in terms of value compared to the same period of the previous year.

The ratio of exports to imports, which was 93.4% in the January-July period of last year, decreased to 48% in the same period of this year.

With the increase in July, Turkiye’s crude steel production increased for the first time in 14 months. With this production, the Turkish steel industry rose to 8th place after Germany.

According to the statement, while Turkiye’s steel products imports from China increased by 84% in the 7 months of the year, the industry is demanding that China prevent China from sending its surplus to Turkiye.

Source: Trthaber / Prepared by Irem Yildiz