Crude steel production in Turkey increased by 4.3 percent year on year in June this year to 3.07 million mt, according to a statement released by the Turkish Steel Producers’ Association (TCUD). In the January-June period this year, Turkey produced 18.61 million mt of crude steel, up by 16.9 percent year on year. Turkey ranked eighth among all countries worldwide in terms of increases in monthly crude steel production and it recorded the second-largest increase, coming after Vietnam, in crude steel output in the first six months of 2024.
In June this year, Turkey’s finished steel consumption fell by 13.3 percent to 2.89 million mt, while in the first six months this year its finished steel consumption decreased by four percent to 19.04 million mt, both year on year.
In the given month, Turkey’s steel exports increased by 30.9 percent to 1.14 million mt, while the value of these exports rose by 12.6 percent to $829.24 million, year on year. In the first half, the country’s steel exports increased by 45.1 percent to 6.49 million mt, while the value of these exports rose by 23.6 percent to $4.79 billion, both year on year.
In June, Turkey’s steel imports decreased by 20.1 percent to 1.17 million mt, while the value of these imports moved down by 30.0 percent to $928.97 million, both year on year. In the first six months this year, the country’s steel imports decreased by 13.3 percent to 8.23 million mt, while the value of these imports fell by 19.5 percent to $6.51 billion, both year on year.
In the January-June period, Turkey’s steel export to import ratio increased to 73.63 percent from 47.94 percent in the same period last year.