Crude steel production declines in August

Türkiye's crude steel production declined by 2.9 percent in August from a year ago to 2.8 million tons after rising 7.7 percent annually in the previous month, data from the World Steel Association have shown.

Türkiye was the world's eighth-largest producer of crude steel.

From January to August, the country produced 21.6 million tons of crude steel, translating into a 12.1 percent decline from a year ago.

World crude steel production for the 63 countries reporting to the association was 152.6 million tons in August, a 2.2 percent increase compared to August 2022.

China, the world's largest producer, saw a 3.2 percent increase in its crude steel output to 86.4 million tons, while its production in the first eight months of 2023 grew 2.6 percent year-on-year to 713 million tons.

India's production grew more than 17 percent annually last month to around 12 million tons, and its eight-month production rose by 10.5 percent to 92.2 million tons.

Japan's crude steel output fell by 2.9 percent and 3.8 percent in August and the January-August period to 7.1 million tons and 58.4 million tons, respectively.

The United States managed to increase its output by 1.1 percent year-on-year to 7 million tons, but its production dropped nearly 2 percent in January-August to 53.8 million tons.

The association estimated that Russia produced 6.4 million tons of crude steel last month, up 8.9 percent from a year earlier, while its output rose 3.9 percent in the first eight months of 2023 to 50.8 million tons.