Turkey leads world in crude steel production growth in 2017

Turkey leads world in crude steel production growth in 2017
By bne IntelliNews February 5, 2018

Crude steel production in Turkey soared 13.1% in 2017, the World Steel Association (WSA) said on February 2. That compared to a rise in global production of only 5.3%.

No other steel producing country outdid the performance of Turkey, the world’s eighth largest producer, although only two of the world’s top 20 steel-producing countries saw output contract, the WSA added.

“Market conditions are favourable,” the world’s largest steel producing company, ArcelorMittal, was quoted as saying by Reuters, adding that “the demand environment remains positive... and steel spreads remain healthy.”

Analysts expect more strong steel growth this year driven by the global manufacturing economy and a big fall in exports from China, the world’s largest steel producer.

A threat on the horizon is a possible decision ahead from US President Donald Trump that steel imports threaten the national security of the US.

Related Articles

Turks take sledgehammers, handguns and fire to iPhones in response to Erdogan’s call for US electronics boycott

Turks are taking sledgehammers, handguns and fire to iPhones in a symbolic backing of their government as it clashes with the Trump administration over jailed American pastor Andrew Brunson, ... more

Pimco sees capital controls as more likely response to Turkey’s crisis than IMF move

Pimco, one of the world’s biggest asset managers, sees capital controls as a more likely attempted solution to Turkey’s economic predicament than an International Monetary Fund (IMF) ... more

Turkey's Erdogan “an obsessive, volatile CEO” in charge of economy just “waiting to blow up” says economist Posen

Turkey’s President Recep Tayyip Erdogan should be thought of as “an obsessive, volatile CEO” in charge of an economy that “has been waiting to blow up for some months”, Adam Posen, ... more

Dismiss