Business

Turkey’s crude steel production hits all-time high in 2021

Production exceeds 40M tons, trade group data shows

Turkiye’s crude steel production increased by 12.7% to reach 40.4 million tons in 2021, according to the Turkish Steel Producers’ Association (TCUD), hitting an all-time high.

The country’s steel sector managed to end 2021 with positive figures despite global protectionist measures, raw material, energy shortage, and restrictions to reduce carbon emission.

As of June 2020, Turkiye’s crude steel production entered an upward trend as the markets started to recover partially after declines due to the pandemic, the association said in a statement.

If the production losses due to natural gas and electricity cuts are curtailed, the statement said, it is expected that the vibrancy in the sector will continue this year thanks to increasing capacities through ongoing investments.

Source
AA

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