Steel production on the rise in Turkey

Steel production in Turkey increased 13.5 percent in the first nine months of 2017, reaching 27.7 million tonnes, the Turkish Steel Manufacturers Association (TCUD) reported.

Turkey has maintained its position as the eighth largest steel producer in the world, accounting for more than 2.1 percent of global steel production, according to the Association.

Turkish steel exports also increased by 8.3 percent annually, reaching 13.5 million tonnes in the first three quarters of 2017. The value of steel exports rose 21.8 percent to $ 9.6 billion over the period.

Over the same period, Turkey's steel imports fell 14.6 percent to 11.9 million tons per year, while the value of imports increased 4.5 percent to $ 8.8 billion. At the same time, global steel production in the first nine months of the year increased by 5.6 percent compared to the same period in 2016 and reached 1.26 billion tons.

China ranks first among steel producers, increasing its production by 6.3 percent year on year, resulting in a total production of 638.7 million tonnes, more than half of global steel production.

Steel is a metal that is used in the construction industry. According to the Turkish Statistical Institute, the Turkish construction sector grew by 6 percent and 6.8 percent in the first and second quarters of 2017.