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Turkish Steel Industry in 2014

Although Turkey’s total crude steel production showed declining tendency for two years, world crude steel production continued to increase in 2014. Production growth refers to the continued improvement in the world steel industry. According to the data of the Worldsteel, global crude steel production grew by 1 % from 1 billion 649 million tons to 1 billion 665 million tons. While production dropped in the CIS, South America and Africa regions, production grew in Asia, North America and EU which translates into continued recovery in the developed economies despite some slowdown. However, Asia continued to account for half of the global production growth in 2014.

When compared to the pre crisis period, it is clearly seen that production of some regions continued to stay behind 2007 levels. Compared to the pre-crisis level of 2007, total crude steel production of the EU is down by 20 %, CIS is down by 15 %, North America is down by 9 % and South America is down by 6 %. Although production is lower than 2007 level in many regions, China’s 2014 production is 68 % higher and Asia’s production is 49 % higher in the same comparison, which brings world crude steel production up 23 % over 2007 level. While world crude steel production increased by 23.2 % during the last 7 years period, world steel production excluding China dropped by 2.2 % and excluding Asia down by 10.1 %. The sharp drop in world crude steel production excluding Asia and China reveals the determining role of the region in the world steel production growth. It should be noted that the production of the EU is far behind the pre crisis  level, which is 44 million tons higher than its 2014 production level. 

According to the worldsteel data, world crude steel production capacity increased by 112 % during the last 14 years between 2000-2014 from 1 billion 62 million tons to 2 billion 248 million tons. Although production dropped during the global crisis periods, capacity continued to increase consistently. During the last 14 years, world crude steel production increased by 1 billion 186 million tons, 75 % of which (886 million tons) belong to China and 87.8 % of which (1 billion 42 million tons) belongs to Asia. As in the production side, China also played the determining role in the world steel production capacity.   more>>