Crude steel production in Turkey increased by 6.5 percent year on year in September this year to 3.09 million mt, according to a statement released by the Turkish Steel Producers’ Association (TCUD). In the January-September period this year, Turkey produced 27.9 million mt of crude steel, up by 13.8 percent year on year. Turkey recorded the second-largest increase in crude steel output globally in the first nine months of 2024.
In September this year, Turkey’s finished steel consumption rose by 0.8 percent to 2.9 million mt, while in the first nine months this year its finished steel consumption decreased by 4.2 percent to 27.8 million mt, both year on year.
In the given month, Turkey’s steel exports increased by 17.7 percent to 1.27 million mt, while the value of these exports rose by 16.7 percent to $908.3 million, year on year. In the January-September period, the country’s steel exports increased by 31.6 percent to 9.8 million mt, while the value of these exports rose by 18.2 percent to $7.2 billion, both year on year. The country's flat and long steel exports in the first nine months totaled 4.4 million mt and 5.2 million mt, respectively.
In September, Turkey’s steel imports increased by 4.8 percent to 1.3 million mt, while the value of these imports moved down by 5.8 percent to $1.01 billion, both year on year. In the first nine months this year, the country’s steel imports decreased by 12.5 percent to 11.9 million mt, while the value of these imports fell by 19.0 percent to $9.49 billion, both year on year. In the January-September period, the country's flat and long steel imports totaled 6.1 million mt and 993,746 mt, respectively.
In the January-September period, Turkey’s steel export to import ratio increased to 75.92 percent from 52.04 percent in the same period last year.
According to the TCUD, the safeguard measure on wire rod imports implemented in January has contributed to the decline of 57.5 percent in wire rod imports and the increase of 71 percent in wire rod exports. Meanwhile, flat steel imports remained stable. With the gradual decrease expected in flat steel imports by October due to the antidumping duties in the range of 6.10-43.31 percent of the CIF value on the HRC imports from China, India, Japan and Russia, Turkey’s steel export to import ratio is anticipated to increase to 90 percent by the end of this year from the current 75 percent, and to exceed 100 percent in 2025. The association noted that with the other measures to be implemented, the Turkish steel industry will continue to support efforts to decrease the country’s foreign trade deficit.