Turkey’s steel output, trade show growth in 2024
(MENAFN) Turkey’s crude steel output saw a slight increase of 0.7 percent year-on-year, reaching 3 million tons in November 2024. According to the Turkish Steel Producers' Association, total production from January to November 2024 grew by 11.2 percent, totaling 33.9 million tons.
Finished product consumption in November 2024 rose by 14.3 percent to 3.6 million tons, though it experienced a slight decrease of 0.3 percent to 35 million tons for the January-November 2024 period compared to the same period in 2023.
In November 2024, steel product exports increased by 13.6 percent in quantity, reaching 967,300 tons, and grew by 15.4 percent in value to USD709 million. Over the January-November 2024 period, exports rose by 29.1 percent in quantity to 12.1 million tons and by 15.3 percent in value to USD8.9 billion.
Imports, however, saw a significant rise in November 2024, growing by 46.6 percent in quantity to 1.8 million tons and by 19.9 percent in value to USD1.2 billion compared to November 2023. This increase was largely driven by a 100 percent rise in semi-finished product imports and a 48 percent jump in long-product imports.
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