Turkey Metals Report Q2 2012
The Turkish steel industry is being supported by a dynamic economy that made it one of the fastestgrowing in the world in 2011, according to BMI’s latest Turkey Metals Report. Turkish crude steel output totalled 34.1mn tonnes (mnt) in 2011, an increase of 17.6% y-o-y. The Russian-owned MMK Atakas’ cold rolling facility with a 1.2mn tonnes per annum (tpa) continuous pickling line, 750,000tpa reversing mill, 450,000tpa hot dip galvanising unit and 200,000tpa colour coating line reached full capacity by end-2011, providing a major boost to output throughout the year. Consumption has been buoyant, but BMI expects a moderation. In 2011 Turkish steel consumption rose 14.1% y-o-y to 26.9mnt, of which 51% consisted of long steel products used mainly by the construction sector while 49% was accounted for by flat steel products used by the automotive, domestic appliance and machinery sectors. Turkey's long steel products consumption in 2011 increased by 17.7% y-o-y to 13.73mnt while th...