Türkiye’s crude steel output soars 47 percent

ISTANBUL

Türkiye produced a total of 3.1 million tons of crude steel in February, marking a 46.6 percent increase from a year ago, according to data from the World Steel Association.

The country’s steel production grew 24.7 percent year-on-year to 3.2 million in the previous month.

With production at 3.1 million tons in February, Türkiye ranked as the world’s eighth-largest steel producer.

In the first two months of 2024, the country’s crude steel production increased by 34.5 percent compared to the same period of last year to 6.3 million tons.

World crude steel production for the 71 countries reporting to the association was 148.8 million tons in February 2024, a 3.7 percent increase compared to February 2023.

Global steel output in the first two months of 2024 grew 3 percent from a year earlier to 306.9 million tons.

The EU member states produced 10.6 million tons of steel in the month, down 3.3 percent, while North America’s production dropped by 1.3 percent to 8.7 million tons, the association said.

Steel production in the Middle East rose by 10.8 percent annually to 4.2 million tons.

China, the world’s largest crude steel producer, increased its output by 3.5 percent to 81.2 million tons, while India’s production surged 11.4 percent to 11.8 million tons.

The third-largest producer Japan’s steel output amounted to 7 million tons, a 1.1 percent increase.

The United States’ production declined by 1.2 percent compared to February 2023 to 6.5 million, while Russia’s output fell 4.4 percent to 5.7 million tons.