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Turkey’s crude steel production rose by 4.2 percent yoy in January-October and reached 29.1 million tons.

Production reached 3.2 million tons in October 2020 with an increase of 19.4 percent compared to the same month of the previous year. According to the statement from Turkey Steel Producers Association, crude steel production in Turkey in October 2020 increased 19.4 percent compared to the same month of the previous year, it reached 3.2 million tons. In the January-October period, crude steel production also increased by 4.2 percent on an annual basis to 29.1 million tons. Finished product consumption reached 2.5 million tons with an increase of 27.6 percent in October. In the January-October period, finished product consumption increased by 16.2 percent and reached 24.4 million tons.

Exports of steel products decreased by 1.6 percent, an amount of 1.5 million tons in October and decreased by 0.2 percent to 791 million dollars. In the January-October period, compared to the same period of 2019, exports decreased by 10.5 percent in amount to 13.3 million tons, and decreased by 18 percent to 6.8 billion dollars.

Steel imports decreased by %18

Imports, reached 963 thousand tons in October with an increase of 2.2 percent in terms of quantity compared to the same month of the previous year, and decreased to 628 million dollars with a decrease of 3.1 percent in value. In the 10-month period of the year, imports increased by 8.2 percent in quantity compared to the same period of the previous year and reached 10.4 million tons. During this period, imports decreased by 4.2 percent in value and became 6.2 billion dollars. The ratio of exports to imports, which was 127 percent in the January-October 2019 period, decreased to 109 percent in the 10-month period of this year.

World steel production increased by %7

The statement also included the data announced by the World Steel Association. Accordingly, world crude steel production in October was 161.9 million tons with an increase of 7 percent compared to the same month of 2019, and 1.51 billion tons with a decrease of 2 percent in 10 months of the year. During the period, China’s crude steel production rose 5.5 percent compared to the same period of last year, to 873.9 million tons. The crude steel production of India, which ranks second, fell by 14.4 percent to 79.68 million tons, and the production of Japan, which ranked third, fell by 18.4 percent to 68.4 million.