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.
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