Crude Steel Production Increases in January

Crude Steel Production Increases in January

Turkey's crude steel production of 17.3 percent in January year on year increase of 3 million tons. Turkey, according to a statement from the Steel Manufacturers Association, domestic steel consumption in the recovery that began in the last months of 2019 continued gaining speed. Final steel consumption in January was 2.7 million tons, up 58.2 percent compared to the same month last year. Turkey's crude steel production of 17.3 percent in this period increased by 3 million tons. Exports of steel products increased by 0.6 percent in quarries on the basis of quota, to 1.9 million tons and decreased by 5.5 percent on a value basis to 1.3 billion dollars. In this month, imports increased by 48.6 percent in volume compared to the same month of the previous year and reached 1.4 million tons, rising 17.7 percent in value to $ 950 million. The ratio of exports to imports, which was 172 percent in January of last year, fell to 138 percent due to the high rate of increase in imports in the same period of this year.