In January this year, Turkey's crude steel output decreased by 0.9 percent year on year and declined by 2.4 percent month on month to 2.83 million metric tons, according to the Turkish Iron and Steel Producers' Association (TCUD). Turkish crude steel output had indicated an 8.8 percent year-on-year decline in January last year.
According to the TCUD, in January of the current year the main reasons for the decrease in Turkish crude steel output were the narrowing gap between raw material and finished product prices in the global markets, the problems in the Turkish economy since December and the rapid depreciation of the Turkish lira against the US dollar.
Meanwhile, in January this year Turkey's crude steel output by electric arc furnaces declined 2.6 percent to 1.93 million metric tons, while production by blast furnaces increased by 3.1 percent to 896,000 metric tons, both on year-on-year basis. In given month, Turkey's slab output, which decreased by 5.3 percent in 2013, increased by 12.7 percent to 852,000 metric tons, while Turkish billet output declined by 5.8 percent to 1.98 million metric tons, all on year-on-year basis.
