Slight drop in Turkey's crude steel output in Jan-Feb 2014

Crude steel production in Turkey totalled 5.5 million tonnes for January-February period of this year.

Slight drop in Turkey's crude steel output in Jan-Feb 2014

World Bulletin / News Desk

Crude steel production in Turkey declined 0.1 percent in the January-February period this year with a total of 5.5 million tonnes.

According to data from the Turkish Steel Producers' Association, Turkey’s crude steel production for February 2014 was 2.7 million tonnes, up by 0.7 percent from February 2013.

"The steel production facilities, which produce steel from scrap metal in an electric arc furnace were affected by a highly competitive market from other steel producers in the world. This caused a rise in Turkish steel industry's competition in international markets. Domestic demand also was weak for the January and February period," said Kutluhan Savas, an expert with Turkish Steel Producers' Association.

"Other reasons for less steel production in the country were some uncertainties in the Turkish economy before the local elections and the increasing raw material costs," he said.

Savas also said that steel imports to Turkey become more attractive after extra governmental costs in the form of environmental contributions were imposed on the industry, adding that those factors have undermined the competitiveness of steel firms in Turkey.

Over 261 million tonnes of world crude steel was produced in the 65 countries reporting to the World Steel Association in the first two months of 2014, an increase of 1.6 compared to the same period in 2013.

China kept its first place on the list of crude steel production in the period with 130.8 million tonnes.

Crude steel production in Turkey declined 3.4 percent over a year, with a total of 34.7 million tonnes since 2013. Turkey kept its position as the world’s eighth largest crude steel producer, accounting for about 2.15 percent of global crude steel output, according to data from the World Steel Association.

Güncelleme Tarihi: 02 Nisan 2014, 17:37