March 20, 2024

Turkish Steel Producers Association

STEEL PRODUCTION IN TÜRKİYE

In January 2024, Türkiye’s crude steel production increased by 24.7% yoy to 3.2 million tons.

STEEL CONSUMPTION

In January 2024, consumption of finished products increased by 19.5% compared to the same month of 2023 and reached 3.5 million tons.

FOREIGN TRADE

Export

In January 2024, compared to the same month of 2023, exports of steel products increased by 23.0% to 894.7 thousand tons in quantity and by 10.1% to 662.1 million USD in value.

Analyzing the sub-items of exports, in January 2024, compared to the same period of the previous year, exports were 347.8 thousand tons with an increase of 89.1% in flat products, 536.7 thousand tons with an increase of 2.0% in long products and 10.2 thousand tons with a decrease of 41.3% in semi-products.

Imports

In January 2024, compared to the same month of 2023, imports of steel products increased by 12.4% yoy to 1.4 million tons and decreased by 1.6% yoy to 1.1 billion USD.

Analyzing the sub-items of imports, in January 2024, compared to the same period of the previous year, imports increased by 8.8% to 735.9 thousand tons in flat products, decreased by 29.1% to 98.8 thousand tons in long products and increased by 32.1% to 549.3 thousand tons in semi-products.

Foreign Trade Balance

The foreign trade deficit in steel products decreased by 16.0% yoy in January 2024, from $490.8 million to $412.3 million. The ratio of exports to imports increased by 6.6 percentage points in January 2024 compared to the same period of the previous year, from 55.1% to 61.6%.

Source: Turkish Steel Producers Association
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