Tuba Sahin
02 July 2019•Update: 02 July 2019
ANKARA
Turkey's crude steel production totaled 3.1 million tons in May, a trade association said on Tuesday.
The figure showed an 8% drop from the same month of last year, Turkish Steel Producers' Association (TCUD) said in a statement.
The country's steel export volume surged 30.3% year-on-year to 2.1 million tons in May.
The value of steel exports also jumped 12.2% to $1.6 billion during the same period.
Meanwhile, Turkey’s steel imports declined 45.4% to 974,000 tons. The report showed that Turkey paid $865 million for imports, up 40.9% on an annual basis in the month.
The TCUD said world crude steel output increased 5.4% to 162.7 million tons in May, citing the World Steel Association (worldsteel) data.
Crude steel output of China, world's top crude steel producer, was 89.1 million tons, rising 10.2%.
In the first five months of 2019, Turkey produced 14.3 million tons of crude steel, posting a 10% annual decrease.
Turkish crude steel export volume rose 20.4% to 9.8 million tons in the January-May period. The country earned $7.2 billion from the export in the same period.
The country's steel import between January and May amounted to 4.9 million tons, down 34.5% year-on-year. The value of imports also dropped 33.4% to $4.2 billion in the first five months of this year.
