Page 91 - TURKRptDec19

9.1.9 ​Metallurgy & mining sector news
Turkey is one of the world’s top 10 steel producers.
In the first nine months of 2019, the country’s steel output declined by 10.1% on an annual basis to 25.3mn tonnes, according to data from local business group TCUD.
Local steel consumption collapsed 32% y/y in the first half of this year as the country’s overall economic activity slowed in the wake of its currency crisis. The pace of decline in local demand, however, eased to 9.4% y/y in the third quarter. Thus, the contraction in local consumption came in at 26% y/y for the first nine months of the year.
In a statement, the Turkish Steel Producers Association (TCUD) argued that the recovery in the local steel market was expected to gain momentum as economic activity was set to pick up. The association, however, did not provide any production, consumption forecasts for 2019.
9.1.10 ​Other sector news
9.2 ​Major corporate news 9.2.1​ Oil & gas corporate news
White goods sales – including refrigerators, dish washers, ovens and washing machines – in Turkey increased by 20% on an annual basis to 473,347 units in October due to base affect​, data from business association TURKBESD showed on November 25. White goods exports, however, dropped bu as much as 5% on an annual basis to 1.88mn units in October, TURKBESD data also showed.
In the first 10 months of the year sales on the local market declined by 8% to 4.93mn units while exports remained flat at 15.8mn units.
● Tupras
91​ TURKEY Country Report​ December 2019 ​ ​www.intellinews.com