Turkish steel production down

According to the Turkish Iron and Steel Producers Association (TCUD), Turkey's steel production in March this year was 3.3 million tons, down almost 3% from the same month last year. The volume of production for the first three months amounted to 9.4 million tons, which is 4.7% less than a year earlier.

Due to lower crude steel production, weaker demand and stagnation in the construction industry, finished steel consumption in Turkey fell by 6.5% to 8.5 million tons in the first quarter of this year, while consumption fell by 16.8% to 2.6 million tons in the first quarter of this year. March, year on year.

TCUD reported that global crude steel production continued to decline in March due to the war between Russia and Ukraine, supply chain disruption and the energy crisis. However, some measures to support construction and restore the supply chain are expected to boost steel demand in 2022 and 2023.