Feb 27 2018

Turkish steel production climbs 7.6% in January

Turkish production of crude steel rose 7.6 percent in January from a year earlier, beating the global average, state-run Anadolu news agency said, citing data from the World Steel Association.

Production increased to 3.17 million tons, Anadolu said. That compared with 3.7 million tons for Germany, the European Union’s biggest manufacturer, it said.

Turkey is seeking to increase exports to the EU and other markets to beat an economic growth target of 5 percent in 2018. The economy grew an estimated 7 percent last year.

Total crude steel production of 64 countries tracked by the World Steel Association rose 0.8 percent to 139.4 million tons, Anadolu said. China produced nearly half of all steel, followed by Japan, India, the United States and South Korea.

The country’s top steelmakers include Erdemir, with a market capitalization of 37.7 billion liras ($10 billion) and Kardemir.