In the first eight months of this year, Turkey's finished steel output increased by two percent year on year to 23.9 million metric tons, according to a report released by the Turkish Iron and Steel Producers' Association (TCUD). In the given period Turkey's long products output increased by 1.2 percent to 17.32 million metric tons and its flat products output rose by 4.3 percent to 6.56 million metric tons, both on year-on-year basis. Meanwhile, 72.5 percent of the total finished steel output consisted of long products and 27.5 percent was accounted for by flat products.
As stated in the report, in the first eight months of the current year Turkey's finished steel consumption increased by 1.3 percent year on year to 20.09 million metric tons. In the given period, consumption of long products in the country expanded by 2.4 percent to 10.82 million metric tons, while flat products consumption increased by 0.1 percent to 9.27 million metric tons. In the given period, 53.8 percent of total finished steel consumption was for long products and 46.2 percent was accounted for by flat products.
Meanwhile, in August alone, Turkey's finished steel output increased by 9.9 percent year on year and by 6.9 percent compared to July to three million metric tons. In the given month, Turkey's finished steel consumption increased by 14.3 percent year on year and by 13.5 percent compared to July to 2.7 million metric tons.