Although Turkey's steel output remained high in the first eight months of this year, the gradual decline in demand for long steel consumption in Turkey has increased rapidly in recent times. However, consumption of flat steel in Turkey increased significantly during this period, according to the latest data of the Turkish Steel Manufacturers Association (TCUD).
Turkish long steel consumption reached 10.9 million tonnes in the first eight months, down 8.1 percent from the same period last year, while flats consumption rose 9 percent to 12.2 million tonnes. Thus, consumption of steel in the first eight months of this country only increased by 0.2% over the same period in 2017, to 23.1 million tons,
The significant increase in flat steel consumption in the country supported Turkey's steel product output during that period, up 4.7 percent year-on-year to 26.7 million tonnes, while The country's crude steel output rose 1.7 percent in the same period to 25.2 million tonnes.
Turkey's long steel production dropped 4.3 percent from a year earlier to 16.4 million tonnes in the first eight months, while flat steel output jumped 23.1 percent to 10.3 million tonnes. , the latest figures show.
Meanwhile, Turkey is still a net steel exporter in the first eight months. Exports rose 5.7 percent year-on-year to 13.1 million tonnes in the first eight months of this year, while Turkish imports rose 3.6 percent to 10.7 million tonnes.
The decision of the Turkish Ministry of Trade of 20 September to impose additional duties of 25% on certain steel products if the quota is exceeded will take effect on 17 October.
Turkey's semi-finished steel imports increased by 21.1% year on year to 3.6 million tonnes in the first eight months, while imports of Turkish flat products fell 5% That period was 5.5 million tons. Turkey imported 979,000 tonnes of long steel during this period, up 4.2 percent.
Turkey's long steel exports rose 4.2 percent to 6.5 million tonnes in the first eight months, while flat steel exports rose 22.2 percent to 3.6 million tonnes.
Thus, Turkey's import-export rate in the first seven months was 118: 100, up 4 points, according to the latest TCUD data.