According to a statement released by the Turkish Iron and Steel Producers' Association (TCUD), in October this year Turkey's crude steel production increased by 2.1 percent month on month and by 6.9 percent year on year to 3.08 million metric tons, the highest monthly output volume in the current year.
During the first 10 months this year, Turkey's crude steel output decreased by 3.8 percent year on year to 28.9 million metric tons. Crude steel production by electric arc furnaces declined, while production by blast furnaces increased. In the same period, Turkey's billet output decreased by 2.8 percent to 22.0 million metric tons and slab output fell 6.9 percent to 6.9 million metric tons, both compared to the same period of the previous year.
On the other hand, in January-September period of this year, Turkey's finished steel products output increased by 4.8 percent and consumption of finished steel products rose by 8.6 percent. In the same period, Turkey's long steel production increased by 3.7 to 19.67 million metric tons, while long steel consumption rose by 11.4 percent to 12.36 million metric tons, both year on year.
According to the preliminary data in the TCUD report, in October this year Turkey's steel exports decreased 20 percent, while they were down 28 percent in the first 10 days of November, both year on year. Meanwhile, in January-September period, Turkey's exports of steel products decreased by 5.2 percent to 14.4 million mt, while imports of steel product increased 28.4 percent to 11.05 million metric tons, both year on year. In the same period, Turkey's long steel exports decreased by 5.7 to 8.4 million metric tons, while imports of long steel rose by 6.3 percent to 1.08 million metric tons, year on year.
In the association's report, the increase in Turkey's steel product imports while up to 30 percent of the production capacity of the sector remained idle is considered to be due to the weakening of the competitiveness of Turkish producers. In addition, the increase in semi-finished steel imports is considered to have played a major role in the increase in total finished steel production, despite the decrease in crude steel output this year.
