Turkiye’s crude steel production was 2.7 million tons in July with a decrease of 20.7% compared to the same month of the previous year.
Turkish Steel Producers Association (TCUD) announced production, consumption and foreign trade data for July.
Accordingly, Turkiye’s crude steel production in July decreased by 20.7% compared to the same month of the previous year, and decreased to 2.7 million tons. Crude steel production decreased by 6.9% in the 7 months of the year to 21.6 million tons.
Finished steel consumption was 2.7 million tons with a decrease of 11.2% on an annual basis in July, and 19.6 million tons with a decrease of 3.6% in the January-July period.
Export and import of steel products
In July, exports of steel products were recorded as 1.2 million tons with a decrease of 22.8% on an annual basis in terms of quantity, and as $1.1 billion with a decrease of 19.4% in terms of value.
In the January-July period, compared to the same period of the previous year, exports amounted to 9.7 million tons with a decrease of 10.2%, and $9.4 billion with an increase of 17.5% in value.
In July, steel products imports amounted to 1.3 million tons with a decrease of 1.8% in terms of quantity compared to the same month of the previous year, and $1.5 billion with an increase of 12.9% in terms of value.
In the 7 months of this year, imports amounted to 9.1 million tons with a decrease of 5.4% in terms of quantity and $10 billion with an increase of 25.6% in terms of value compared to the same period of the previous year.
The ratio of exports to imports, which was 100.6% in the January-July period of last year, decreased to 94% in the same period of this year.
World steel production
According to the July data announced by the World Steel Association (worldsteel), world crude steel production amounted to 149 million tons with a decrease of 6.5% compared to the same month of the previous year, and 1.1 billion tons with a decrease of 5.4% in the first 7 months of the year.
In the January-July period, China’s crude steel production fell to 609 million tons with a decrease of 6.4% compared to the same period of the previous year. It became 53.3 million tons with a decrease of 4.9%.
Production of the 10 largest crude steel producers in the world decreased
According to the assessment made regarding the developments in the steel industry, the decline in world crude steel production continued in July. Among the 10 largest crude steel producing countries in the world, a decrease was observed in the production of all countries except India and Iran.
While the decrease in world crude steel production was 6.5% in July, Turkiye’s production decreased by 20.7%. In terms of monthly production, Turkiye ranked 9th in the world ranking, declining two levels compared to 2021.
In the decrease in production, in addition to the global adversities, the fact that the products sent to Turkiye with international prices below $100-150 per ton, with multi-faceted government support from Russia, put pressure on the domestic market and domestic producers could not compete with these prices, cut their production or halted their production. This situation was also reflected in the capacity utilization rates. The capacity utilization rate, which was 75.2% in July last year, declined to 59.7% this year.
Source: Trthaber / Translated by Irem Yildiz