Crude steel production in Turkey increased by 22.9 percent year on year in August this year to 3.2 million mt, according to a statement released by the Turkish Steel Producers’ Association (TCUD). In the January-August period this year, Turkey’s crude steel production totaled 22.7 million mt, rising by 0.6 percent year on year.
In the January-August period, Turkey’s finished steel consumption rose by 13 percent to 19 million mt, while in August, finished steel consumption in Turkey increased by 27.5 percent to 2.9 million mt, both year on year.
In August, Turkey’s steel exports decreased by 10.3 percent to 1.5 million mt, while the value of these exports increased by 14.9 percent to $1.02 billion, year on year. Exports in the January-August period stood at 13 million mt, down by 10.2 percent year on year, while the value of exports during this period was $9.1 billion, down by 16 percent year on year.
In August, Turkey’s steel imports decreased by 7.7 percent to 1.09 million mt, while the value of these imports moved down by 12 percent to $765.5 million, both year on year. In the first eight months of the current year, imports increased by 8.7 percent to 8.7 million mt, while the value of these imports decreased by 5.1 percent to $6.3 billion, both year on year.
According to the association, despite all the contracting effects of the pandemic period, the increases in production and consumption in the first eight months of the year increased the optimistic expectations for the last months of the year. However, the fact that 50 percent of consumption in the local market is met by imports has reduced capacity utilization rates. The EU Commission’s trade measures continue to restrict the steel exports of Turkey. The TCUD stated that, besides the quota restrictions, dumping investigation and non-tariff transaction duty, the European Steel Association (EUROFER) has requested the imposition of duties for previous years. It went on to say that the EU Commission continues to implement the customs union agreement and free trade agreement with Turkey in a one-sided way. Turkey’s steel industry, it said, expects the commission to end its protectionist measures and step up efforts to ensure free and fair trade.