Steel production soars in January

ISTANBUL

Türkiye produced a total of 3.2 million tons of crude steel in January, pointing to a robust 24.7 percent increase from the same month last year, according to data from the World Steel Association.

With an output level of more than 3 million tons recorded last month, Türkiye claimed the seventh spot among the world’s largest steel producers, ahead of Germany, which produced an estimated 2.9 million tons of steel.

In December 2023, the country’s crude production was up 21.2 percent to 3.2 million tons, which made it the eighth largest producer in the world. In 2023, Türkiye’s steel output amounted to nearly 34 million tons, down 4 percent from the previous year.

In January this year, China’s steel production plunged 6.9 percent to 77.2 million tons, but India managed to increase its output by 7.3 percent to 12.5 million tons. Japan’s production inched up 0.6 percent year-on-year to 7.3 million tons, according to the association.

The U.S. produced 6.8 million tons of steel last month, down 0.3 percent, while Russia’s estimated output rose 1.2 percent to 6.2 million tons.

World crude steel production for the 71 countries reporting to the World Steel Association was 148.1 million tons in January 2024, a 1.6 percent decrease compared to January 2023, said the trading body.