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TCUD: Turkey’s steel import decreased by 24% in July

Friday, 30 August 2024 10:21:30 (GMT+3)   |   Istanbul
       

Crude steel production in Turkey increased by four percent year on year in July this year to 3.05 million mt, according to a statement released by the Turkish Steel Producers’ Association (TCUD). In the January-July period this year, Turkey produced 21.67 million mt of crude steel, up by 14.9 percent year on year. Turkey recorded the second-largest increase in crude steel output in the first seven months of 2024.

In July this year, Turkey’s finished steel consumption fell by 19.3 percent to 2.77 million mt, while in the first seven months this year its finished steel consumption decreased by 6.2 percent to 21.81 million mt, both year on year.

In the given month, Turkey’s steel exports increased by 48.7 percent to 1.25 million mt, while the value of these exports rose by 35.7 percent to $903.18 million, year on year. In the January-July period, the country’s steel exports increased by 45.3 percent to 7.73 million mt, while the value of these exports rose by 25.1 percent to $5.69 billion, both year on year. The country's flat and long steel exports in the first seven months totaled 62,151 mt and 103,555 mt, respectively. 

In July, Turkey’s steel imports decreased by 24.0 percent to 1.17 million mt, while the value of these imports moved down by 29.6 percent to $987.89 million, both year on year. In the first seven months this year, the country’s steel imports decreased by 14.8 percent to 9.4 million mt, while the value of these imports fell by 21.0 percent to $7.5 billion, both year on year. In the January-July period, the country's flat and long steel imports totaled 2.14 million mt and 1.58 million mt, respectively.

In the January-July period, Turkey’s steel export to import ratio increased to 75.8 percent from 47.86 percent in the same period last year.


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