Turkey's crude steel production rises 5.3pct in 2016
Crude steel production in Turkey increased 5.2 percent last year, reaching 33.2 million tons.
- Economy
- Anadolu Agency
- Published Date: 12:00 | 07 February 2017
- Modified Date: 03:12 | 07 February 2017
According to data from the Turkish Steel Producers' Association (TCUD) Turkey maintained its position as the world's eighth largest crude steel producer, accounting for about 2.03 percent of global crude steel output.
The country's steel export volume also increased by 1.2 percent to reach 16.9 million tons. However, the value of steel exports declined by eight percent to $10.8 billion due to low steel prices.
Meanwhile, the country's steel imports declined by eight percent to 17.5 million tons. The association said Turkey paid $10.9 billion for imports, mainly to China.
World crude steel production increased 0.8 percent in 2016, compared to 2015, reaching 1,628 megatons.
China maintained its leading position on the list of crude steel producers in 2016, with its total production reaching 808 million tons, accounting for a 49.6 percent share in world crude steel production.