Production reaches 3M tons, says trade group data
Turkey posted a 5.9% year-on-year rise in crude steel production in February, according to trade group data released on Thursday.
The production reached 3 million tons in February, the Turkish Steel Producers’ Association (TCUD) said in a statement.
The volume of steel product exports slightly decreased by 0.8% to 1.3 million tons during the same period.
The country’s steel imports increased 19.5% to 13 million tons, while in terms of the value they rose 40.5% to $874 million.
Pointing to the ongoing rise in the reading, the statement underlined that Turkey continued to be the seventh-largest steel producer in the world.
The country’s earnings from steel exports, however, jumped 22% on an annual basis to $826 million in February.
Citing World Steel Association (worldsteel) data, the group said global crude steel output this February rose 4.1% year-on-year to 150 million tons.
Some 6.4 million tons of crude steel were produced in Turkey in the first two months of this year, an annual rise of 9.4%.
The country’s steel exports dropped 9.4% to 2.6 million tons while imports were up 0.3% to 2.4 million tons in the same period.