Turkiye’s crude steel output surges 12 percent in May

Türkiye produced a total of 3.2 million tons of crude steel in May, marking a robust 11.6 percent increase from a year ago, according to data from the World Steel Association (worldsteel).

With 3.2 million tons of output, Türkiye was the 8th largest producer of crude steel in the world. In April, the country’s steel production rose 4.5 percent annually to 2.8 million tons.

In the first five months of 2024, Türkiye boosted its crude steel production by 19.8 percent year-on-year to 15.5 million tons.

Last year, the country produced 33.7 million tons of crude steel, which translated into a 4 percent decline from 2022.

World crude steel production for the 71 countries reporting to the association was 165.1 million tons in May, a 1.5 percent increase compared to May 2023.

China, the top steelmaker in the world, produced 92.9 tons in May, up 2.7 percent year-on-year, followed by India, whose steel output rose 3.5 percent to 12.2 million tons, the association said.

Japan’s steel production fell 6.3 percent annually to 7.2 million tons, while the U.S.’s output was down 1.5 percent from May 2023 to 6.9 million tons.

Russia is estimated to have produced 6.3 Mt, down 0.9 percent and South Korea produced 5.2 million tons, down 10.9 percent, according to the association.

In the first five months of 2024, global crude steel production amounted to 793.2 million tons, marking a 0.1 percent decline from the same period of last year.

Source: hurriyetdailynews

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