Having reached the highest steel production level in history in August, the Turkish steel industry retained the 7th place in the global steel production for the month.
By producing 3.5 million tonnes of crude steel in August, Turkish steelmakers have raised the likelihood of reaching 40 million tonnes by the end of the year, exceeding the highest production of 37.5 million tonnes achieved in 2017.
Thanks to accelerated production and increased capacity utilization, the Turkish steel industry increased export shipments of metal products in August by 70% to 1.9 million tons, receiving $ 1.7 billion in foreign currency earnings.
In the period from January to August, exports amounted to 12.7 million tons, an increase of 21.5% in quantity compared to the same period in 2020, and by $ 9.7 billion in value, an increase of 84%.
Steel exporters in January-August increased their exports to the Far East market by 59%. About 1.7 million tonnes were exported to the Latin American market, up 339%. On the other hand, despite an 11.9% increase in production, exports of hot rolled coils (HRC) declined 23% in August due to strong domestic demand.