Turkey – Established as the world’s leading importer of ferrous scrap, Turkey’s crude steel production surged 11.5% year on year to 15.1 million tonnes in the first five months of 2017, according to the national steel producers’ association TÃÃD.
Turkey is the world’s eighth-largest crude steel producer, contributing around 2.2% of global output, states the industry body.
The country’s steel exports jumped 22.5% to 8.5 million tonnes in the first five months of 2017 while the value of these shipments ballooned 34% year on year to US$ 5.7 billion.
Turkey’s output of finished steel products edged 1.4% higher year on year to 15.6 million tonnes in January-May 2017 whereas consumption fell 10.3% to 13.2 million tonnes, TÃÃD also notes.
Consumption of long steel products was the hardest hit, with a decline of 16.6% to 6.4 million tonnes when compared to January-May 2016.