Turkey’s H1 steel output on track for historical high in 2021

Turkey, Europe’s second-largest steel producer, increased its crude steel output by 17.9% on year in June 2021 to 3.4 million mt. This output figure was also higher than 3.2 million mt produced in May.

According to the latest World Steel Association data, Turkish mills’ crude steel output totaled 19.7 million mt in the first half of the year, 20.2% higher on year.

The Turkish Steel Producers’ Association (TCUD) is expecting Turkey’s crude steel production to exceed 39 million mt this year, notably higher than 35.8 million mt produced in 2020 amid the COVID-19 pandemic. This expected output figure for 2021 would be an historically high level.

This target is in line with the expected 2021 growth in Turkish steel consumption and a rise in export volumes on strong global demand with the easing of the pandemic.

Turkish mills have also revised upward their 2021 steel export target. Turkish Steel Exporters’ Union, is targeting to exceed 23 million mt of export volume in 2021, around 2.5 million mt higher on year. The revenue generated from these exports is expected to reach $17.5 billion, up 40% on year.

New Turkish steel investments announced in recent months could carry Turkish crude steel output above 40 million mt in the coming years, industry sources observed.

— Cenk Can