Turkey: Crude steel production at 28M tons in Jan-Oct

By Tuba Sahin

ANKARA (AA) - Turkey's crude steel output reached 28 million tons in the first 10 months of this year, a trade association said Monday.

Crude steel production in the country slipped 10.6% year-on-year in January-October, the Turkish Steel Producers' Association (TCUD) said.

The country's steel export volume surged 6.4% on an annual basis to 18.5 million tons in the same period, while its value fell 4.4% to $13.6 billion.

Meanwhile, the country's steel imports slipped 21% to 10.2 million tons due to shrinking consumption.

Citing World Steel Association data, the group said that world crude steel output increased 3.25% on a yearly basis to 1.5 billion tons from January to October.

"Among the 15 largest crude steel producers, Vietnam posted the highest annual increase with nearly 50%, while Turkey showed the worst performance with minus 10.6%," it said.