Earthquake effect on steel production – Bloomberg HT
Turkey’s crude steel production decreased to 2.1 million tons in February with a decrease of 28.9 percent compared to the same month of the previous year, due to the earthquakes in Kahramanmaraşlı.
According to the production, consumption and foreign trade data for February announced by the Turkish Steel Producers Association (TÇÜD), Turkey’s crude steel production decreased by 28.9 percent compared to the same month of the previous year and became 2.1 million tons. Crude steel production, in the first 2 months of the year, decreased by 23.1 percent to 4.7 million tons.
Finished steel consumption was recorded as 2.5 million tons in February with a decrease of 12 percent on an annual basis, and 5.5 million tons with a decrease of 7.7 percent in the January-February period.
Exports of steel products decreased by 47.3 percent
In February, exports of steel products fell to 675 thousand tons with a decrease of 47.3 percent on an annual basis in terms of quantity, and to 582 million dollars with a decrease of 50.5 percent in terms of value.
In the January-February period, compared to the same period of the previous year, exports amounted to 1.4 million tons with a decrease of 44.9% in quantity, and 1.2 billion dollars in value with a loss of 49.5 percent.
10,7 percent decline in imports
In February, imports of steel products decreased by 10.7 percent in terms of quantity compared to the same month of 2022 and amounted to 1.3 million tons, and decreased by 32 percent in value to 1 billion dollars.
In the first 2 months of the year, imports decreased to 2.5 million tons with a 10 percent loss compared to the same period of the previous year, and to 2.1 billion dollars with a 27 percent decrease in value.
The ratio of exports to imports, which was 80.1 percent in the January-February period of last year, decreased to 55.3 percent in the same period of this year.
