Turkish crude steel output down 10% in January-May

Turkey produced 14.297 million tonnes of crude steel in January-May 2019, down 9.97% from the 15.880 million tonnes produced in the first three months of 2018, according to the Turkish Steel Producers Association (TÇÜD).

The fall in output was largely due to the negative sentiment that has been dominating Turkey’s domestic steel market since August last year, when the country’s lira lost significant ground against the dollar after United States president Donald Trump doubled tariffs on steel imported from Turkey. The duty was cut back to 25% on May 17, and sentiment has improved slightly, but the country’s currency is still weak even though it...

Published

Serife Durmus

June 26, 2019

14:57 GMT

Bursa