Turkey’s finished steel output and consumption decline in 2014

Influenced by the situation in the Turkish economy in 2014, finished steel consumption in Turkey declined in the given year, thereby affecting the volume of domestic finished steel output, according to a report released by the Turkish Iron and Steel Producers’ Association (TCUD).

As stated in the report, in 2014 Turkey’s finished steel output decreased by 0.9 percent year on year to 36.09 million mt. In the given year, Turkey’s long product output totaled 25.72 million mt, down 3.1 percent, and its flat product output increased by 5.1 percent to 10.38 million mt, both on year-on-year basis. Meanwhile, 71.3 percent of the total finished steel output consisted of long products and 28.7 percent was accounted for by flat products.

Last year Turkey’s finished steel consumption decreased by 1.9 percent year on year to 30.74 million mt. In the year in question, consumption of long products in the country decreased by 3.3 percent to 16.14 million mt, while flat product consumption declined by 0.2 percent to 14.6 million metric tons, both year on year. In the given period, 52.5 percent of total finished steel consumption was for long products, while 47.5 percent was accounted for by flat products.

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