According to the statement from the Turkish Iron and Steel Producers' Association (TCUD), in January 2024, Turkey's crude steel production was ranked seventh and first in the world and Europe, respectively, increasing by 24.7% year on year to 3.2 million tons. Meanwhile, Turkey's consumption of finished steel went up by 19.5% from the same period a year ago to 3.5 million tons.

During the same period, Turkey's steel exports hiked by 23% year on year to about 895,000 tons, and the export value increased by 10.1% year on year to US$662 million. Besides, Turkey's steel imports went up by 12.4% year on year to 1.4 million tons, but the import value slightly decreased by 1.6% to US$1.1 billion.