ECONOMY

Turkey's crude steel output at 2.9M tons in July

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Crude steel production in Turkey fell 10.6% on an annual basis, reaching 2.9 million tons in July, a trade association announced on Thursday.

The country's steel export volume rose 5.7% to 1.9 million tons during the same period, the Turkish Steel Producers' Association (TCUD) said.

However, the value of steel exports slipped 4.5% to $18.6 billion due to falling prices, it said.

Meanwhile, the country's steel imports rose 7.8% to 1.1 million tons. Turkey paid $890 million for imports.

Citing World Steel Association (worldsteel) data, the group noted that world crude steel production reached 156.7 million tons in July, up 1.7% from the same month last year.

Figures for January-July

Turkey's crude steel output in the first seven months of this year also saw an annual decrease of 10.2% to hit 19.9 million.

The country's steel exports stood at 13.1 million tons in January-June, up 13.5% from same period last year.

"Despite the strong picture in export figures, threats limiting the export potential of the sector due to increasing global protectionist measures continue to grow," the statement read.

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