According to a statement released by the Turkish Iron and Steel Producers' Association (DCUD), in the first quarter this year Turkey's finished steel production reached 8.77 million mt, up by 16.9 percent year on year.
Of the total finished steel production in the January-March period, 73.5 percent consisted of long steel products, while 26.5 percent was accounted for by flat steel products. Turkey's flat steel production amounted to 2.32 million mt in the first three months, with an increase of 10.2 percent, while domestic production of long steel products rose by 19.5 percent to 6.45 million mt, both compared to January-March 2011.
Meanwhile, Turkey's total steel product consumption in the first quarter reached 6.9 million mt, rising 7.4 percent compared to the same quarter last year. In the period in question, Turkey used 3.5 million mt of long steel products, while the country's flat steel consumption was 3.4 million mt. The association predicts a rising trend in the coming months due to the opening of the construction season and the increase of stability in export markets like the Middle East and North Africa.
On the other hand, Turkey's crude steel production reached 9 million mt in the first quarter this year, up by 13.7 percent year on year, leading to a rise of 13.8 percent year on year in scrap consumption to 8.13 million mt in the given period. Turkey's scrap imports in the first three months increased to 5 million mt, rising 10.9 percent, with a value of $2.3 billion, up 11 percent, both on year-on-year basis.
In the period in question, Turkey's domestic scrap supply rose by 17.8 percent year on year to 2.8 million mt, following a 54 percent year-on-year increase recorded in 2011.
The DCUD statement also noted that the rise in the country's domestic scrap supply has led to slower growth in Turkey's total scrap imports compared to its crude steel production and scrap consumption.