9,951.65 TRY BIST 100 BIST 100
36.01 USD USD USD
4.96 CNY CNY CNY
37.17 EUR EUR EUR
0.13 CNY CNY/EUR CNY/EUR
39.00 TRY Interest Interest
75.27 USD Fossil Oil Fossil Oil
32.02 USD Silver Silver
4.59 USD Copper Copper
106.94 USD Iron Ore Iron Ore
349.00 USD Shipbreaking Scrap Shipbreaking Scrap
3,334.80 TRY Gold (gr) Gold (gr)

There are 2 reasons for reducing the production in steel

Veysel Yayan, Secretary General of the Turkish Steel Producers Association, said, "We will close the year with a decrease of more than 13 percent in steel production. There are two reasons for this, the first of which is the shrinkage of the market. More importantly, the interventions that reduce our competitiveness. We cannot compete with countries such as Russia, India and China."

There are 2 reasons for reducing the production in steel

Veysel Yayan, Secretary General of the Turkish Steel Producers Association (TÇÜD), said: "Following a 13 percent growth in 2021, we had a growth expectation of over 10 percent in 2022. We had no reason for this not to be the case."

Participating in the Bloomberg HT broadcast, Yayan said, "When you look from the production point of view, Turkey was by far the country with the highest drop in production, with a drop of over 30 percent in November among the top 20 countries. When we look at it for 11 months, there is a decrease of 12,3 percent. "As a result, we will close the year with a production decrease of more than 13 percent. This gives a very negative picture compared to world steel production, which will close the year with a decrease of less than 3 percent," he added.

Yayan said, "The decrease in steel production occurred with the special conditions of 2022. There are two reasons for this, the first of which is the shrinkage of the market. More importantly, the interventions that reduce our competitiveness. We cannot compete with countries such as Russia, India and China."

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Saudi Arabia and India strengthen industrial ties during official visit

Monday, February 10, 2025

MDO and EMSTEEL Group unite for Oman-UAE rail network

Thursday, February 6, 2025

Vişne Madencilik IPO was successfully completed

Thursday, February 6, 2025

Saudi Arabia is making a major step forward in mining

Monday, February 3, 2025

El Marakby Steel receives certification from Brazil

Thursday, January 23, 2025
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now