Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Crude steel production in Turkey totaled 5.9mn mt through the first two months of 2020, increasing by 12.7pc over the same period in 2019, according to Turkish Steel Producers Association (TCUD). 


Market conditions in the country were conducive to a growth in output, however, the COVID-19 pandemic is anticipated to negative impact the market from March through April. 


In February, Turkey’s crude steel production increased by 8.2pc to 2.9mn mt.


Steel product consumption in Turkey reached 5.7mn mt during the first two months of 2020, increasing by 63.3pc over the January and February of last year. However, Turkey’s steel product exports decreased by 4.9pc to 3.6mn mt because of global protectionist policies, according to TCUD.


In February, Turkey’s steel product consumption increased by 68.3pc to reach 3mn mt.


The COVID-19 pandemic, which caused major disruptions in European markets in February, hadn’t influenced Turkey’s steel markets as heavily. However, by March the pandemic began depressing the Turkish market and steel consumption fell, with some mills cutting production.


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