In the first quarter this year, Turkey's finished steel output increased by 2.9 percent to 8.74 million metric tons, despite the 0.5 percent decrease in the country's crude steel output in the given period to 8.43 million metric tons, both on-year-on-year basis, according to a report released by the Turkish Iron and Steel Producers' Association (TCUD).
Meanwhile, in the first quarter of the current year Turkey's long products output increased by 5.9 percent to 6.38 million metric tons and its flat products output decreased by 4.3 percent to 2.42 million metric tons, both on year-on-year basis. Meanwhile, 72.4 percent of the total finished steel output consisted of long products and 27.6 percent was accounted for by flat products.
As stated in the report, in the first quarter this year Turkey's finished steel consumption increased by 1.5 percent year on year to 7.16 million metric tons. In the given period, consumption of long products in the country increased by 7.3 percent to 3.70 million metric tons, while flat products consumption decreased by 4.1 percent to 3.45 million metric tons. In the given period, 51.8 percent of total finished steel consumption was for long products and 48.2 percent was accounted for by flat products.
Meanwhile, in March this year, long and flat steel production in Turkey totaled 2.35 million metric tons and 740,000 metric tons respectively, while consumption of long and flat steel amounted to 1.47 million metric tons and 1.12 million metric tons.