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8.1.9 Metallurgy & mining sector news
Recently, steel investments in Turkey have been on the rise thanks to favourable market conditions.
Turkey’s crude steel production in 2021 will easily reach 2017-2018 levels, or even exceed 40mn tonnes, given the performance of the Turkish steel industry in H1, KPMG Turkey said on August 4 in a steel industry report. (See detailed steel industry analysis).
In January-July, Turkey produced 23mn tonnes of crude steel, up 18% y/y. In January, production was up 2.5% y/y to 3.2mn tonnes.
Turkey is the world’s eighth largest producer of steel.
World crude steel production of the 64 countries that report to the World Steel Association was 161.7mn tonnes in July, translating to a 3.3% y/y increase.
China, the world’s largest producer, saw an 8.4% y/y decline to 86.8mn tonnes.
In 2020, Turkey managed to increase its steel production by 6% y/y to 35.8mn tonnes, whereas global steel output fell 0.9% to 1.9bn tonnes.
8.1.10 Other sector news
Turkey was the 18th largest pharma market in the world in 2020 by the
46 TURKEY Country Report September 2021 www.intellinews.com
