Turkey's crude steel output on rise in January

Turkey's crude steel production surged 17.3% year-on-year to 3 million tons in January, according to a trade association on Monday.

The country's steel products exports showed a moderate rise of 0.6% to 1.9 million tons during the same period, the Turkish Steel Producers' Association (TCUD) said in a statement.

The country received $1.3 billion revenue from steel exports, falling 5.5% on an annual basis in January.

The volume of steel imports jumped 48.6% to 1.4 million tons during the same period. In terms of value, crude steel imports increased 17.7% year-on-year to $950 million.

Citing World Steel Association data, the group said global crude steel production hit 154 million tons in January, climbing 2.1% compared to same month in 2019.

Turkey was the 7th largest crude steel producer worldwide, it said, adding that the country posted the second highest rise (with 17.3% rise) after Iran in the month.

Crude steel is an unrefined metal used in the construction industry.