TCUD: Turkey’s Steel Exports Decline in Jan-Sep, Imports Rise Again

SEATTLE (Scrap Monster): Crude steel production in Turkey increased by 8.4 percent year on year in September this year to 2.89 million mt, ranking eighth in global crude steel production, according to a statement released by the Turkish Steel Producers’ Association (TCUD).

In the January-September period this year, Turkey produced 24.5 million mt of crude steel, down by 10.1 percent year on year. In September, Turkey’s finished steel consumption rose by 30.3 percent to 2.8 million mt, while in the January-September period this year the country’s finished steel consumption increased by 18.5 percent to 28.9 million mt, both year on year.

In the given month, Turkey’s steel exports decreased by 23.3 percent, while in the first nine months this year the country’s steel exports decreased by 39.7 percent, both year on year.

Turkey’s steel imports increased by 10.9 percent in September and by 53.4 percent in the January-September period, both year on year. In the January-September period, Turkey’s steel export to import ratio decreased to 52.11 percent, from 93.8 percent recorded in the same period of the previous year.

According to the association, the country’s wire rod imports in the January-September period increased by 115.3 percent year on year.

An extraordinary increase was recorded in wire rod imports from Egypt, Russia, Malaysia, South Korea and China. While the decline in exports continued, the increase in imports has had a negative impact on the Turkish steel industry.

The TCUD stated that it is important to prevent government-supported and dumped imports, which cause a significant decrease in the steel export to import ratio and capacity utilization rates, and to focus on products for which Turkey does not have production capacity, by reviewing the inward processing regime.

Courtesy: www.steelorbis.com