Double growth of steel import and export in Türkiye in 2024

According to the data released by Türkiye SPV450 steel Steel Producers Association (T ∨ D), in December 2024, Türkiye's crude steel output dropped 7.6% year-on-year to 2.97 million tons; In 2024, Türkiye's crude steel output will increase by 9.4% year-on-year to 36.89 million tons. In addition, in December 2024, Türkiye will still be the eighth largest crude steel producer in the world. In December 2024, the consumption of finished steel in Türkiye increased by 11.4% year-on-year to 3.26 million tons, and the annual total consumption increased by 0.6% year-on-year to 38.26 million tons. In that month, Türkiye's SPV450 steel exports increased by 16.0% year-on-year to 1.3 million tons, and its total export value increased by 11.9% year-on-year to 88.34 million US dollars. In 2024, Türkiye's steel exports increased by 27.6% to 13.4 million tons year on year, and its total export value increased by 17.7% to 9.75 billion US dollars year on year. Among them, the total export volume of sheet metal and long steel was 5.79 million tons and 7.26 million tons respectively. Türkiye's steel imports increased significantly in December 2024, with a year-on-year growth of 73.8% to 1.82 million tons, and the total import value increased by 37.8% to 1.23 billion US dollars. The annual import volume increased by 1.7% year-on-year to 17.38 million tons, while the total import value decreased by 9.9% year-on-year to 13.18 billion US dollars. Among them, the import volume of sheet metal and long steel for the whole year of 2024 was 8.1 million tons and 1.35 million tons SPV450 steel respectively. In 2024, the ratio of Türkiye's steel exports to imports will rise to 73.97%, higher than 56.59% in 2023.