TCUD: Turkey maintains position as Europe’s top steel producer

Thursday, 01 April 2021 16:58:27 (GMT+3)   |   Istanbul
       

Crude steel production in Turkey increased by 5.9 percent year on year in February this year to three million mt, according to a statement released by the Turkish Steel Producers’ Association (TCUD). In the January-February period this year, Turkey produced 6.4 million mt of crude steel, up by 9.4 percent year on year.

In February, Turkey’s finished steel consumption rose by 15 percent to 2.8 million mt, while in the January-February period this year its finished steel consumption increased by 15.5 percent to 5.9 million mt, both year on year.

In the given month, Turkey’s steel exports decreased by 0.8 percent to 1.3 million mt, while the value of these exports increased by 22 percent to $826 million, year on year. In the January-February period this year, the country’s steel exports decreased by 9.4 percent to 2.6 million mt, while the value of these exports rose by 9.1 percent to $1.6 billion, both year on year.

In February, Turkey’s steel imports increased by 19.5 percent to 1.3 million mt, while the value of these imports moved up by 40.5 percent to $874 million, both year on year. In the first two months this year, the country’s steel imports increased by 0.3 percent to 2.4 million mt, while the value of these imports rose by 24.8 percent to $1.8 billion, both year on year.

According to the association, the increase in Turkey’s crude steel production has continued, while Turkey, which became the seventh biggest steel producing country in the world and Europe’s leading steel producer last year, maintained its position in the first two months this year. Since the second half of 2020, the increase in Turkey’s steel production and consumption has continued. In the first two months of the year, Turkey’s steel export to import ratio has declined to 89.6 percent, from 102.4 percent recorded in the same period last year. Turkey’s exports to countries implementing safeguard measures, in particular the US and the EU countries, decreased. In the first two months of the current year, Turkey’s exports to the US fell by 48.5 percent year on year, while its exports to EU countries decreased by 20.2 percent year on year in the given period, following the cumulative 34 percent decrease in the last two years. The TCUD stated that the failure of the extension of the ongoing safeguard measures implemented by the EU Commission and the abolition of the 25 percent safeguard measure applied by the US are important for Turkey.


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