Crude steel production in Turkey increased by 46.6 percent year on year in April this year to 3.3 million mt, according to a statement released by the Turkish Steel Producers’ Association (TCUD). In the January-April period this year, Turkey produced 13.1 million mt of crude steel, up by 16.9 percent year on year.
In April, Turkey’s finished steel consumption rose by 111.5 percent to three million mt, while in the January-April period this year its finished steel consumption increased by 30.8 percent to 12 million mt, both year on year.
In the given month, Turkey’s steel exports increased by 35.4 percent to 1.6 million mt, while the value of these exports rose by 91.4 percent to $1.2 billion, year on year. In the January-April period this year, the country’s steel exports increased by 10.1 percent to 5.8 million mt, while the value of these exports rose by 43.3 percent to $3.9 billion, both year on year.
In April, Turkey’s steel imports increased by 200.8 percent to 1.6 million mt, while the value of these imports moved up by 234.6 percent to $1.3 billion, both year on year. In the first four months this year, the country’s steel imports increased by 40.5 percent to 5.5 million mt, while the value of these imports rose by 73 percent to $4.2 billion, both year on year.
In the first four months of the year, Turkey’s steel export to import ratio declined to 92.9 percent, from 112 percent recorded in the same period last year.
According to the association, considering the increase rates in Turkey’s steel production and exports, it is seen that the focus is on the local market. Following the decrease of 43.9 percent in the country’s steel consumption in April last year amid the pandemic and the acceleration in stock growth trends amid uncertainty as regards prices, the country’s steel consumption rose by 111.5 percent in April this year leading to difficulties in the supply of some products, and also resulting in an increase in imports. It is expected that this situation will continue in May, partially softening, and that reasonable balances will be established in the markets as of June. According to the TCUD, in order to establish the mentioned balances faster, bureaucratic obstacles facing efforts to increase the capacity of the Turkish steel industry must be removed and measures must be taken to ensure that the sector returns to its position of a net exporter.
