Reuters reported that Turkey's crude steel output is expected to grow 6.5% in 2013 on the back of growth-oriented policies, a recovery in the construction sector and an improving outlook internationally.
Turkish Iron and Steel Producers Association General Secretary Mr Veysel Yayan said steel output was seen at 38.5 million tonnes next year, whereas steel consumption was expected to increase 5.3% to 30 million tonnes.
Mr Yayan said that "We expect growth friendly policies in the domestic market and the weakening effects of global crisis in the export market to determine whether the sector growth will be sustainable or not.”
Turkey is expected to produce 36.2 million tonnes of crude steel in 2012, up 6% from a year earlier.
Seeking to narrow a gaping current account deficit, lower high inflation and prevent the economy overheating, Turkey's central bank applied a tight monetary policy at the end of 2011 by tightening lira liquidity and raising its overnight lending rate.
Mr Yayan further said that "The expected increase in consumption will stem from a recovery in the construction sector, which accounts for almost half of the total consumption volume.” He added that "The government's growth policies in 2013 will also help the manufacturing industry, which uses steel products as output.”
