Crude steel production in Turkey decreased by 10.3 percent year on year in May this year to 2.9 million mt, according to a statement released by the Turkish Steel Producers’ Association (TCUD). In the January-May period this year, Turkey produced 13.0 million mt of crude steel, down by 19.1 percent year on year.
In May, Turkey’s finished steel consumption rose by 2.6 percent to four million mt, while in the January-May period this year the country’s finished steel consumption increased by 13.7 percent to 16.5 million mt, both year on year.
In May, Turkey’s steel exports decreased by 36.1 percent to 778,700 mt, while the value of these exports declined by 47.4 percent to $684.1 million, year on year. In the first five months this year, the country’s steel exports decreased by 47.7 percent to 3.6 million mt, while the value of these exports fell by 52.6 percent to $3.1 billion, both year on year.
In May, Turkey’s steel imports increased by 85.6 percent to 2.1 million mt, while the value of these imports moved up by 37.0 percent to $1.8 billion, both year on year. In the first five months of this year, the country’s steel imports increased by 25.2 percent to eight million mt, while the value of these imports fell by 3.2 percent to $6.8 billion, both year on year.
In the January-May period, Turkey’s steel export to import ratio decreased to 46.5 percent, from 95.0 percent recorded in the same period of the previous year.
According to the association, the increase in local demand in the January-May period caused by the reconstruction of the earthquake zone is completely met by imports. In May, imports of flat products, HRC and wire rod increased by 50 percent, 41.6 percent and 121.4 percent, respectively. TCUD stated that to meet the increased demand through domestic supply, the inward processing regime should be reviewed and countermeasures should be adopted against the protectionist measures implemented for Turkish steel industry.