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Turkey becomes the worlds 8th largest iron and steel producer

Hurriyet Daily reported that Turkey became the world’s 8th largest producer of iron and steel in the H1 of this year up from 15th in the world 10 years ago. Turkey’s share in global iron and steel production rose from 1.76% to 2.34 in the same period.

According to data from the World Steel Association, Global iron and steel production increased only 1 percent in the first 6 months of 2012 compared with the same period last year. Global production in this sector, one of the most significant inputs of the real economy reached 767 million tonnes in the same period.

The rate of increase in Turkey’s iron and steel production was much higher than the global average at 9% amounting to a volume of 17.9 million tonnes. Turkey ranked 15th in 2001 with 15 million tonnes of iron and steel production but later climbed to 10th place with 34.1 million tonnes. The country overtook its close rivals Ukraine and Brazil this year settling at 8th worldwide.

Between January and June, the biggest iron and steel producer was China with 357.2 million tonnes followed by Japan with 46.3 million tonnes and the United States with 38 million tonnes. India took fourth place with 38 million tonnes and Russia took fifth with 35.7 million tonnes in the same period. South Korea was sixth with 35 million tonnes followed by Germany with 21.9 tonnes. Brazil was in ninth place with 17.2 million tonnes and Ukraine was 10th with 17.2 million tonnes.

Source - Hurriyet Daily News

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