Steel production fell in July

Türkiye produced a total of 2.7 million tons of crude steel in July, marking a 20.7 percent decline from a year ago, according to data from the World Steel Association (Worldsteel).

With 2.7 million tons of output, Türkiye was the world's eighth largest producer of crude steel.

In June, the country's production also fell by 13.1 percent on an annual basis to 2.9 million tons, which came on top of the 1.4 percent year-on-year decline to 3.2 million tons in May.

In the first seven months of 2022, Türkiye's crude steel production amounted to 21.6 million tons, dropping 6.9 percent in the same period of last year, data from Worldsteel showed.

World crude steel production for the 64 countries reporting to the Worldsteel was 149.3 million tons in July 2022, a 6.5 percent decrease compared to July 2021, the association said.

Those 64 nations accounted for approximately 98 percent of the total world crude steel production in 2021.

Among the world's top 10 producers, China's output fell 6.4 percent year-on-year to 81.4 million tons last year, while the country's year-to-date output amounted to 609.3 million tons, also down by 6.4 percent from a year ago.

India produced 10.1 million tons, up 3.2 percent compared with July 2021, and the seven-month production rose by 8 percent on an annual basis to 73.3 million tons.

Japan's production fell by 8.3 percent in July and declined 4.9 percent in January-July to 7.3 million tons and 53.3 million tons, respectively. Steel output in the U.S. was down 6.4 percent last month to 7 million tons, while the production in the first seven months of the year declined 3 percent to 48 million tons.

Russia is estimated to have produced 5.5 million tons of steel in July, down 13.2...