According to data from the World Steel Association (worldsteel), in September, Turkey’s crude steel production went up by 8.4% year on year and grew by 4.9% month on month to about 2.9 million tons. In the same month, the pig iron output amounted to around 728,000 tons, slightly decreasing by 1% from the same month a year ago and falling by 3% month on month. In the first nine months, Turkey’s pig iron production went down by 11.1% compared to the same period a year ago to 6.1 million tons.

According to the outlook from the worldsteel, Turkey’s steel demand would grow by 19% in 2023 and keep increasing in 2024. The increase reasons might be caused by earthquake-related construction activities and the abandonment of its unconventional monetary policy that drove foreign investment out of the country.