Turkey’s crude steel production in January 2021 compared to the same month of 2020 increased 12.7% to authors idealdat


© Reuters. TÇÜD: Turkey’s crude steel production in January of 2021, increased 12.7% compared to the same month of 2020

Turkey’s crude steel production in January 2021, increased 12.7% compared to the same month of 2020.

Steel Production

Turkey’s crude steel production in January of 2021, by 12.7% compared to the same month of 2020 was an increase of 3.4 million tons.

In 2020 35.8 million tons by performing the world’s seventh largest steel producer in Europe is Turkey, also in January 2021, has maintained its position.

Steel Consumption

In January 2021, finished product consumption reached 3.1 million tons, with an increase of 15.1% compared to January of the previous year. Long product consumption 32.9% flat product consumption increased 2.2%.

Foreign trade

Export

The exports of steel products in January amounted to 1.3 million tons with a decrease of 15.5% in quantity and 749 million dollars in value with a decrease of 1% compared to the same month of the previous year.

Imports

Due to the product insufficiency caused by the rapid increase in demand in the international market and the priority of our steel producers to the domestic market, January imports decreased by 14.3% in terms of quantity to 1.2 million tons, with an increase of 12.2% in value compared to the same month of 2020. occurred at the dollar level.

Foreign Trade Balance

In January 2021, there was a decrease in the ratio of exports to imports in steel products. The ratio of exports to imports, which was 97.3% in January 2020, declined to 85.9% in January 2021.

World Steel Production

According to the January 2021 data announced by the World Steel Association (worldsteel), world crude steel production increased by 4.8% compared to the same month of 2020 and reached 163 million tons.

In January 2021, China’s crude steel production rose 6.8% to 90.2 million tons compared to the same month of 2020, while India’s crude steel production, which ranked second, rose 7.6% to 10 million tons, the third. Japan’s crude steel production, on the other hand, decreased by 3.9% to 7.9 million tons.

Evaluation

Our crude steel production, which has entered an upward trend since June 2020, continued its upward trend in January, and with an increase of 12.7%, 3.4 million tons of crude steel was produced. If this trend continues in crude steel production, it is considered possible to exceed 38 million tons of production by the end of the year.

In addition, the safeguards encountered in foreign markets and the signs of China’s return to the world steel markets show that the obstacles to our exports in 2021 continue to increase. Meanwhile, the decline in our exports to the EU, our largest export market, continues. Our exports to the EU, which decreased by around 40% in 2020, decreased by 36.6% in January. The EU commission’s investigation into the continuation of the protection practice, which will expire in July, reinforces our concerns that the EU may continue its protectionist approach. There is no justification for the decisions of the EU to prevent our steel exports. These unfair practices, which mean the violation of the Free Trade Agreement between us, need to be fully reacted and the import tendency in the domestic market to be taken under control.

In order to increase the import coverage ratio of exports, which declined to 85.9% with a decline of 11.4 basis points in January, to be over 100% again, it is necessary to direct domestic steel consumption to domestic supplies due to the fact that our exports cannot be increased due to protective practices. .

-iDeal News Center-

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