According to the State Statistics Committee of Azerbaijan, in January this year metallurgical industry production in Azerbaijan totaled a value of AZN 17.3 million ($16.5 million), 38.7 percent lower compared to the same period last year. Reduced investment in the construction sector seems to be the main reason for the decline in question.
According to the State Statistics Committee, in January Azerbaijan produced 19,300 mt of rebar, 30.1 percent less than in January last year. Due to a chronic shortage of ferrous scrap, the production activities of local steel producer Baku Steel Company have been suspended.