According to the information received by the AA correspondent from the Turkish Steel Producers Association (TÇÜD), the Turkish steel industry completed the first 6 months of 2021 with a significant increase in production and exports.
Crude steel production amounted to 3.4 million tons in June with an increase of 17.9 percent compared to the same month of 2020, and 19.7 million tons in the January-June period with an increase of 20.6 percent compared to the same period of the previous year. Turkey ranked 8th in global crude steel production.
Final product consumption, on the other hand, increased by 1.5 percent on an annual basis to 2.5 million tons in June. Consumption increased by 29.4 percent in the first 6 months of the year compared to the same period of the previous year and reached 17.4 million tons.
Foreign trade data
Exports of steel products reached 1.8 million tons with an increase of 17.8 percent on quantity basis and 1.4 billion dollars with an increase of 94.7 percent on value basis in June, compared to the same month of the previous year.
In the January-June period of this year, exports reached 9.2 million tons with an increase of 17.1 percent in quantity compared to the same period of the previous year, and 6.7 billion dollars in value with an increase of 64.9 percent.
In June, imports amounted to 1.2 million tons with a decrease of 12.9 percent on amount, and 1.1 billion dollars with an increase of 49.9 percent on value basis.
Imports reached 8.2 million tons with an increase of 35.3 percent in quantity and 6.6 billion dollars with an increase of 80.2 percent in value in the 6-month period.
While the ratio of exports to imports was 110.1 percent in the first half of 2020, it decreased to 100.8 percent in the same period of 2021.
“Rise in the first half of 2021 led to an increase in global steel product prices”
TÇÜD Secretary General Veysel Yayan said that the rise in steel consumption, which decreased last year due to the effect of the new type of coronavirus (Covid-19), in the January-June period of 2021, led to serious increases in steel product prices in global markets.
Expressing that in the first half of the year, there were fluctuations in production, consumption, export and import values due to the base effect, Yayan said:
“As of the second half, the production, consumption and foreign trade balances will start to settle gradually, with the introduction of new capacities, there will be a production surplus in flat products and this situation will provide additional opportunities not only in terms of exports but also in terms of import substitution. It is evaluated that Turkey’s contribution to closing the current account deficit will increase. In order to maintain this increase in a healthy way, it is important to take countermeasures for the protection measures and other trade policy measures implemented by many countries, especially the EU and the USA.”
. (HAS) . ..