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

Light shed on Turkey’s propping up of Maduro with gold-for-consumer-goods exchange

A Reuters investigation has shed light on Turkey’s role in helping to prop up the Maduro ... more

HSBC Turkey’s CEO to stand trial for allegedly insulting Erdogan with Hitler parallels: report

The CEO of HSBC Holding’s Turkish unit is to stand trial over allegations that he insulted President Recep Tayyip Erdogan during the “Gezi” anti-government protests six years ago, Bloomberg ... more

Turkey’s Credit Guarantee Fund failing to compensate banks for NPLs: report

Turkish banks have not been receiving compensation since August for non-performing loans (NPLs) made to companies covered by guarantees from the state’s Credit Guarantee Fund (KGF), five sources ... more

Dismiss