TÇÜD: Crude steel production increased by 0.5% in June

The Turkish Steel Producers Association (TÇÜD) has announced steel production and consumption figures for June.

In June 2024, Türkiye's steel product exports in terms of volume increased by 30.9%, with flat products increasing by 84.7%, semi-finished products by 265.9%, while long products decreased by 1.4%.

Türkiye's steel product imports decreased by 20.1% in terms of volume in June. Flat products decreased by 26.4%, long products by 41.3%, and semi-finished products increased by 2.4%.

In the first six months of 2023, the export-to-import ratio was 47.94%, while in the same period of 2024, it increase to 73.63%.

The share of imports in total steel product consumption was 42.1%. The share of imports in flat product consumption reached 60.9%. The share of imports under the DİR scope in total imports was 54%, and 71.6% in semi-finished products.

Türkiye's biggest trading partner is the EU

In the first half of 2024, Türkiye's scrap imports increased by 3.6%, with the largest share coming from the EU, which increased by 1.7% compared to the same period of the previous year. Scrap imports increased by 6.6% from the USA, 50.8% from the UK, 81.8% from the CIS countries, while scrap imports from other regions, excluding these countries and Far East-Southeast Asia, showed a decrease.

Import dropped

In the first six months of 2024, the share of imports in consumption decreased to 42.1% due to a 4% decrease in consumption and a 13.3% decrease in steel product imports. The increase in exports of high value-added products, particularly the increase in flat product exports by 84.7% in May and 81.2% in the six-month period, had a significant impact. In order to sustain this upward trend, which is crucial for achieving OVP goals, it is important to limit imports from Egypt, China and other Far Eastern countries, continue negotiations to end the multi-faceted protection measures applied against our steel sector, and take measures to reduce input costs and increase competitiveness.

Türkiye grows to second place among world's top steel producers

The Turkish steel sector increased its production by 16.9% in the six-month period, placing it 8th in the world steel production ranking. However, its performance in the first six months of the year placed it second among the world's top 15 producers, after Vietnam.

In June, flat product production increased by 16.6% to 1.3 million tons, while consumption decreased by 18.3% to 1.4 million tons. Long product production decreased by 3.9% to 2 million tons, while consumption decreased by 8.3% to 1.5 million tons.