(MENAFN) Türkiye's crude steel production showed a modest increase in November 2024, rising by 0.7 percent year-on-year to reach 3 million tons. Over the January-November 2024 period, production saw a more significant jump of 11.2 percent, totaling 33.9 million tons, according to data from the Turkish Steel Producers' Association.

In terms of finished steel product consumption, November 2024 saw an increase of 14.3 percent, reaching 3.6 million tons. However, for the January-November period, consumption slightly decreased by 0.3 percent, totaling 35 million tons compared to the same period in 2023.

Steel product exports also performed well in November 2024, rising by 13.6 percent in quantity to 967,300 tons, and by 15.4 percent in value to USD709 million. Over the January-November 2024 period, exports increased by 29.1 percent in quantity, reaching 12.1 million tons, and by 15.3 percent in value, totaling USD8.9 billion.

On the import side, Türkiye saw a notable increase in steel imports in November 2024, with a 46.6 percent rise in quantity to 1.8 million tons, and a 19.9 percent rise in value to USD1.2 billion compared to November 2023. This growth was driven by a 100 percent increase in semi-finished product imports and a 48 percent rise in long-product imports. However, for the January-November period, imports decreased by 3 percent in quantity to 15.6 million tons, and by 13 percent in value to USD11.9 billion compared to the same period in 2023. The ratio of exports to imports improved significantly, rising from 54.5 percent in the previous year to 74.2 percent in 2024.

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