According to a statement released by the Turkish Steel Producers’ Association (TCUD), in November last year, crude steel production in Turkey increased by 6.1 percent year on year to 3.4 million mt, while in the January-November period last year Turkey’s crude steel production totaled 36.7 million mt, rising by 13.4 percent year on year.
In the January-November period, Turkey’s finished steel consumption rose by 12.9 percent to 30.5 million mt, while in November alone finished steel consumption in Turkey increased by 11.0 percent to 2.9 million mt, both year on year.
In November, Turkey’s steel exports decreased by 0.4 percent to 1.5 million mt, while the value of these exports rose by 80.4 percent to $1.5 billion, year on year. Turkey’s steel exports in the January-November period stood at 18.0 million mt, up by 21.9 percent year on year, while the value of these exports came to $14.9 billion, up by 96.4 percent year on year.
In November, Turkey’s steel imports increased by 5.5 percent to 1.2 million mt, while the value of these imports moved up by 71.9 percent to $1.3 billion, both year on year. In the first 11 months last year, steel imports increased by 86.7 percent to 13.0 million mt, while the value of these imports increased by 86.7 percent to $14.1 billion, both year on year.
In the first 11 months of the year, Turkey’s steel export to import ratio increased to 114.0 percent, from 108.5 percent recorded in the same period of the previous year. The association stated that this increase was due to higher exports to South Asian and South American markets, despite the safeguard measures implemented by the main export markets.
According to the TCUD, November was the month with the highest production level recorded after October and August. The country’s crude steel production is expected to be close to 40 million mt by the end of the year, even if the production figure is 3 million mt in December when there were some production stoppages due to energy cuts. The increase in Turkey’s steel exports is expected to continue in the coming months. The association stated that, in order to maintain the increase in exports in 2022, the safeguard measures implemented by the US and the EU should be loosened and energy cuts should be ended.