Turkey’s crude steel output fell 17.6 percent in January

The Turkish Steel Producers Association (TÇÜD) announced production, consumption and foreign trade data for January.

Consequently, Turkey’s crude steel production in January decreased by 17.6 percent compared to the same month of the previous year and became 2.6 million tons.

Finished steel consumption was recorded at 2.9 million tons in January with a decrease of 3.5 percent on an annual basis.

STEEL EXPORTS DECREASED 42 PERCENT

Turkey’s exports of steel products decreased to 733 thousand tons with a decrease of 42 percent compared to the same month of the previous year, and to 605 million dollars with a decrease of 48.3 percent in value.

Imports, for their part, decreased 9.1 percent in quantity to 1.2 million tons and 21.2 percent in value to 1.1 billion dollars.

The export/import ratio, which was 84.4 percent in January last year, decreased to 55.3 percent in the same month of 2023.

TÇÜD Secretary General Veysel Yayan, whose views are included in the statement, said that with the decision to postpone the effective date of import duties on flat steel products until April 1, an amount Significant amount of imported products will enter Turkey until that date.

yanyan said:

“The Turkish steel industry, which is expected to have no problem meeting the need arising from the earthquake, has declared that it is ready to fix the needs for investment in housing to be carried out by AFAD in the earthquake zone at the prices of February 1st. , excluding increases in input costs and exchange rates. Depending on the continued decline in energy prices in the coming months and the application of taxes from April 1, the sector is expected to improve both in production and exports, and at the same time maximize its contribution to the Turkish economy achieving important advances in terms of import substitution thanks to the new capacities created”. (AA)