According to a statement released by the Turkish Steel Producers’ Association (TCUD), in June this year crude steel production in Turkey decreased by 13.1 percent year on year to 2.9 million mt, while in the January-June period the country’s crude steel production totaled 18.9 million mt, falling by 4.6 percent year on year. In June, Turkey was among the countries whose steel production declined the most.
In the January-June period, Turkey’s finished steel consumption fell by 3.4 percent to 17.0 million mt, while in June alone finished steel consumption in Turkey increased by 0.5 percent to 2.6 million mt, both year on year.
In June, Turkey’s steel exports decreased by 17.9 percent to 1.5 million mt, while the value of these exports rose by 4.7 percent to $1.6 billion, year on year. According to the TCUD, the decline in Turkey’s steel exports was due to protection measures and the decrease in demand from foreign markets. Turkey’s steel exports in the January-June period stood at 8.5 million mt, down by 8.1 percent year on year, while the value of these exports came to $8.3 billion, up by 25.0 percent year on year.
In June, Turkey’s steel imports increased by 9.6 percent to 1.3 million mt, while the value of these imports moved up by 29.1 percent to $1.5 billion, both year on year. In the first six months this year, steel imports decreased by 5.9 percent to 7.7 million mt, while the value of these imports increased by 28.0 percent to $8.5 billion, both year on year.
In the first six months of the year, Turkey’s steel export to import ratio decreased to 97.9 percent, from 100.5 percent recorded in the same period of the previous year.
According to the TCUD, in the second quarter of the year Turkey’s billet imports from Russia, which were almost at scrap price levels, increased by five times compared to the first quarter of the year, negatively affecting the Turkish steel industry. While some plants in the country stopped their production, others started to reduce the number of shifts. Emphasizing the importance of reviewing the protection measures and dumping duties on Turkey applied by the US, EU and other countries, the association said that Turkey’s Inward Processing Regime (DIR) should be reviewed, considering that the share of steel imports under this regime in total domestic consumption exceeded 40 percent.