Turkey's crude steel output surges 12.7% in Jan-Feb

Turkey's crude steel production hit 5.9 million tons in January-February, rising 12.7% from the same period last year, a trade group data showed on Wednesday.

The country's steel products exports volume fell 4.9% year-on-year to 3.6 million tons in the first two months of this year, the Turkish Steel Producers' Association (TCUD) said.

Turkey's earnings from steel exports stood at $2.5 billion, down 9.6% during the same period.

The steel imports posted a 40.4% annual rise, reaching 2.6 million tons from January to February. In terms of value, crude steel imports rose 16.3% year-on-year to $1.8 billion.

Citing World Steel Association data, the group said global crude steel production increased 1% to hit 294 million tons in the same period.

Turkey is the eighth largest crude steel producer worldwide, it said, adding that the country posted the second highest rise with 40.5% after Iran in the period.

It highlighted that Germany's steel production continues to decrease to 6 million tons in the first two months.

Crude steel is an unrefined metal used in the construction industry.