Country’s steel exports drop 4.9% y-o-y to 3.6 million tons in first two months
Turkey’s crude steel production hit 5.9 million tons in January-February, rising 12.7% from the same period last year, a trade group data showed on Wednesday.
The country’s steel products exports volume fell 4.9% year-on-year to 3.6 million tons in the first two months of this year, the Turkish Steel Producers’ Association (TCUD) said.
Turkey’s earnings from steel exports stood at $2.5 billion, down 9.6% during the same period.
The steel imports posted a 40.4% annual rise, reaching 2.6 million tons from January to February. In terms of value, crude steel imports rose 16.3% year-on-year to $1.8 billion.
Citing World Steel Association data, the group said global crude steel production increased 1% to hit 294 million tons in the same period.
Turkey is the eighth largest crude steel producer worldwide, it said, adding that the country posted the second highest rise with 40.5% after Iran in the period.
It highlighted that Germany’s steel production continues to decrease to 6 million tons in the first two months.
Crude steel is an unrefined metal used in the construction industry.