According to a statement released by the Turkish Steel Producers’ Association (TCUD), in February this year crude steel production in Turkey decreased by 5.6 percent year on year to 2.9 million mt, while in the first two months production declined by 3.7 percent year on year to 6.1 million mt.
In the given month, finished steel consumption in Turkey rose by 18.6 percent year on year to 3.4 million mt, while in the January-February period the country’s finished steel consumption increased by 9.8 percent year on year to seven million mt.
In February, Turkey’s steel exports increased by 3.2 percent to 1.12 million mt, while the value of these exports fell by 6.4 percent to $790.1 million, year on year. In the first two months, the country’s steel exports rose by 11.8 percent to 2.3 million mt, while the value of these exports increased by 2.8 percent to $1.5 billion, both year on year. Looking at the exported products, flat and long product exports in the January-February period amounted to 907,347 mt and 1.3 million mt, respectively, with increases of 15.6 percent and 5.3 percent year on year, while semi-finished product exports amounted to 99,182 mt.
In the second month of the current year, Turkey’s steel imports increased by 17.6 percent to 1.3 million mt, while the value of these imports moved up by 3.8 percent to $940.1 million, both year on year. In the January-February period, the country’s steel imports increased by 21.6 percent to 3.1 million mt, while the value of these imports moved up by 7.8 percent to $2.1 billion, both year on year. Looking at the imported products, flat and long product imports in the first two months amounted to 1.49 million mt and 198,290 mt, respectively, with an increase of 14.3 percent and a decrease of 2.7 percent year on year, while semi-finished product exports amounted to 1.37 million mt.
In the first two months, Turkey’s steel export to import ratio decreased to 72.63 percent, from 76.18 percent recorded in the same period of the previous year.
According to the TCUD statement, in the January-February period this year Turkey’s steel exports to the US decreased by 80.6 percent year on year to 14,700 mt. The country's steel exports to Far East/South Asia declined by 37.6 percent year on year to 20,500 mt, while the fact that its steel imports from the given region increased by 28.5 percent year on year to 1.6 million mt widened the foreign steel trade deficit between Turkey and Far Eastern countries. Highlighting that trade is becoming increasingly regionalized as global protectionist measures increase, TCUD noted that the EU’s restriction of the quota volumes allocated to many countries, on the grounds that trade would be diverted following the US decision to increase duties, would exert pressure on Turkey’s exports to the EU. The association emphasized that it is important to put similar trade policies into effect and to meet the increase in domestic consumption from the domestic market in the face of increasing protectionist measures.
