The Turkish Steel Producers Association (TÇÜD) announced the steel production and consumption figures for April.
Accordingly, world crude steel production decreased by 5% in April 2024 compared to the same period of the previous year and reached 155 million 697 thousand tons. Türkiye produced 2 million 797 thousand tons of crude steel in April, increasing its production by 4.4% compared to the same month of the previous year.
While crude steel production appears to be experiencing positive acceleration in recent months, when monthly averages are taken into account, it was observed that the 4-month average production of 3.1 tons remained below the level of 3.3 tons in 2021.
The Turkish steel industry increased its production by 22.1% in the four-month period, ranking 8th in world steel production, but with its performance in the first four months of the year, it became the country that increased its production the most among the 15 countries with the highest production in the world.
Flat product production increased by 16% to 1.4 million tons and consumption decreased by 2.5% to 1.7 million tons in April. In long products, production decreased by 12.8% to 1.8 million tons and consumption decreased by 25.1% to 1.4 million tons.
Steel product exports increased by 64.6 percent
Türkiye's steel exports increased by 64.6% in April 2024 in terms of quantity. Flat products increased by 98.6%, long products by 36.9% and semi-products by 397.5%.
On a quantity basis, Türkiye's steel imports decreased by 12.4% in April. Flat products decreased by 0.6%, long products by 31.9% and semi-products by 19.3%.
The ratio of exports to imports, which was 49.74% in the first four months of 2023, increased to 72.37% in the same period of 2024.
Imports accounted for 42.3% of total steel product consumption. The share of imports in flat product consumption reached 59%. The share of imports under DIR in total imports was 57.7% and 74.5% for semi-products.
Increasing by 2.4% in April 2024, the EU had the largest share in scrap imports, which increased by 1.5% compared to the same month of the previous year. Scrap imports increased by 9.2% from the US, 16.4% from the UK and 310.4% from the CIS countries, while scrap imports from other regions, excluding these countries and Far East-South Asian countries, decreased.
According to TÇÜD's April steel assessment, in the first four months of 2024, the share of imports in consumption was recorded at 42.3% compared to the same period of the previous year, as consumption increased by 2.5% and imports of steel products decreased by 5.9%. The rise in exports of high value-added products in particular was instrumental in the 98.6% increase in flat product exports in April and 84.4% in the four-month period. In order to maintain this upward trend, which is also important in terms of achieving the MTP targets, it is important to continue negotiations to end the multilateral protection measures against our steel industry and to increase competitiveness by taking measures to reduce input costs.” He added.
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