Türkiye's crude steel production up 13.8% year-on-year in 9 months

According to information collected by SteelRadar from the Turkish Steel Producers Association (TÇÜD), crude steel production increased by 6.5% to 3.1 million tons in September compared to the same month last year. In the January-September period, production increased by 13.8% to 27.9 million tons.

Final product consumption increased by 0.8% to 2.9 million tons in September, but decreased by 4.2% to 27.8 million tons in the January-September period compared to the same period last year.

Exports of steel products increased in quantity and value

Exports of steel products increased by 17.7% in September compared to the same month last year, reaching 1.3 million tons in quantity and 16.7% in value, reaching 908.2 million dollars.

Exports increased by 31.6% in quantity to 9.8 million tons in the January-September period compared to the same period of 2023, and by 18.2% in value to 7.2 billion dollars.

Imports decreased in 9 months

Imports increased by 4.8% to 1.3 million tons in September compared to the same month of the previous year in terms of quantity, but decreased by 5.8% in value to 1 billion dollars.

In the January-September period compared to the same period of 2023, imports decreased by 12.5% in quantity to 11.9 million tons and by 19% in value to $9.5 billion.

The ratio of exports to imports, which was 52% in the January-September period of last year, increased to 75.9% in the same period of this year.

Year-end target for foreign trade balance is at least 90%

Veysel Yayan, Secretary General of TÇÜD, said in a statement that the protection measure decision taken by the Ministry of Trade on wire rod imports in January caused a 57.5 percent decline in product imports, while exports increased by 71 percent due to economies of scale.

Emphasizing that imports of flat hot products remained the same, Yayan said:

“As of October, with the gradual decrease in flat product imports, the ratio of exports to imports, which is still at 75%, is likely to rise above 90% by the end of the year and above 100% in 2025. With the steps to be taken in this direction, the steel industry will once again strengthen its position among the sectors that provide significant support to the closing of our country's foreign trade deficit.”