Turkish steel output falls in November
Turkish crude steel production fell -2.1% on-year and -0.7% on-month in November to 3.1 million tonnes, Kallanish learns from the Turkish Steel Producers Association (TCUD). While EAF-based output fell -4.7% on-year, BOF-based production actually rose by 4.3%.
In January-November Turkish crude steel output nevertheless still rose 0.5% on-year to 34.43mt thanks to a 0.9% growth in EAF-based production to 23.92mt, while BOF output declined -0.5% to 10.51mt.
Billet production in the 11 months was down -2.8% to 22.89mt, but slab output rose 7.8% to 11.54mt.
TCUD said earlier this month it expects steel output and exports to decline due to “…intense” pressure from China and other countries leading to a contraction in margins between input costs and finished product prices (see Kallanish passim). The International Rebar Exporters and Producers Association (Irepas), meanwhile, said Turkish mills are likely to suspend production in the coming months due to reduced export opportunities and “… vanishing” domestic consumption.
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Anonymous
Very good overview of the weekly steel market.
Anonymous