Turkey’s crude steel output fell 13 percent in the first 7 months of the year.

Turkey’s crude steel output rose 7.7 percent in July from the same month a year earlier, reaching 2.9 million tonnes.

The Turkish Steel Producers Association (TÇÜD) has announced Turkey’s crude steel production, consumption and foreign trade data for July.

Consequently, crude steel production was estimated at 2.9mt in July, an increase of 7.7 percent compared to the same month of the previous year.

In the January-July period, the production in question decreased by 13.3 percent to 18.8 million tons.

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

27.4 PERCENT DECLINE IN STEEL EXPORTS

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

In the January-July period, compared to the same period in 2022, exports amounted to 5.3 million tons with a decrease of 44.2 percent in terms of quantity and 4.6 billion dollars with a decrease of 51, 1 percent in terms of value.

Imports of steel products amounted to 1.5 million tons with an annual increase of 16.1 percent in terms of quantity and 1.4 billion dollars with a decrease of 7.1 percent in value terms.

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

The export-import ratio, which was 93.4 percent in the January-July period last year, fell to 48 percent in the same period this year.

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

According to the statement, although Turkey’s imports of steel products from China increased by 84 percent in the seven months of the year, the industry is demanding that China prevent it from sending its surplus to Turkey. (AA)