Turkey’s steel production soars 8.7% in February

ANKARA (AA): Turkey’s crude steel production jumped 8.7 percent to nearly 3 million tons in February, compared with the same month in 2017, according to the World Steel Association on Monday. International total crude steel production, comprising 64 countries, was 131.8 million tons in February, up 3.5 percent from 127.3 million tons during February 2017, according to the association’s report.

China produced more than half of the world’s crude steel, with 64.9 million tons in the month. Its production rose 5.9 percent in February compared with the same month last year.

India and Japan came next with over 8 million tons; the US followed with 6.4 million tons, and then South Korea with 5.4 million tons. Among EU states, Germany had the most crude steel production at 3.3 million tons.

The crude steel capacity utilization ratio of countries in February was 73.3 percent, up 1.8 percentage points from February 2017.

World Steel Association members represent nearly 85 percent of the world’s steel production.

Turkey’s production in February 2017 was 2.76 million tons, the report showed.