Trade setbacks effect crude steel output fall
ANKARA - Anadolu Agency
Turkey’s crude steel production dropped by 3.4 percent to 34.7 million tons in 2013, data from to the World Steel Association (WorldSteel) has revealed.Crude steel production in Turkey declined 3.4 percent after a tough year for local manufacturers that were majorly hit by an anti-dumping investigation in the top market U.S.
Despite keeping its position as the world’s eighth largest crude steel producer, Turkey’s crude steel output plunge by 3.4 percent to 34.7 million tons in 2013, according to data from to the World Steel Association (WorldSteel).
The country that accounted for about 2.15 percent of global crude steel output last year had manufactured 35.9 million tons of steel in 2012.
An investigation executed by the United States seeking to impose anti-dumping duties on steel pipes imported from Turkey, along with eight other countries, has already begun damaging Turkish steel pipe makers’ business.
The possibility of local steel pipe makers’ exclusion from the Trans-Anatolian Pipeline Project (TANAP), which will carry Azeri gas to Europe via Turkey, making some $2.5-3 billion loss also escalated market concerns.
Overall global crude steel production in the meantime increased 3.5 percent compared to 2012, reaching 1,607 megatons.
The growth came mainly from Asia and Middle East - crude steel production in all other regions decreased in 2013 compared to 2012.
Total annual production in Asia was 1,080.9 million tons of crude steel in 2013, an increase of 6 percent compared to 2012. The region’s share of world steel production increased slightly from 65.7 percent in 2012 to 67.3 percent in 2013.