Turkey: Erdemir liquid steel output, product shipments up q-o-q in Q3

Turkey's leading steel producer, Erdemir Group, has posted an increase of over 5% in liquid steel production and steel product sales in the third quarter of CY'21 (Jul- Sept'21).

Operational highlights:

• Liquid steel production: The company registered a 5.4% q-o-q rise in its liquid steel output in Jul-Sept'21. Production volumes in Q3CY'21 stood at 2.35 million tonnes (mn t) as compared to 2.23 mn t in Q2 CY'21.
  Total production in Jan-Sept'21 amounted to 6.94 mn t, up 5% y-o-y against 6.62 mn t in the corresponding period last year (CPLY).
  
  
• Finished steel production: Finished steel production totalled 2.11 mn t in Q3, almost stable q-o-q.
  
  
• Steel product shipments: Shipments were recorded at 2.12 mn t, up 5.6% q-o-q as compared to 2.01 mn t in the previous quarter.
  Exports share accounted for 22.2% of the total shipments in Q3CY'21. Total export volumes stood at 472,000 t. Exports in Jan-Sept'21 were recorded at 1.09 mn t.
  
  

Financial results:

• EBITDA was recorded at $883 million in Q3CY'21.
  
  
• Net profit stood at to $598 million in Q3.
  
  

Turkey's steel industry performance

• Steel production: The country's steel production increased by 17.9% y-o-y to 27.7 mn t in Jan-Aug'21, of which 17.5 mn t was long steel and 10.2 mn t was flat steel.
  
  
• Steel consumption: Turkey's steel consumption was recorded at 23 mn t, up 20.4% y-o-y in Jan-Aug'21. Flat steel consumption stood at 12.5 mn t and long steel at 10.5 mn t.
  
  
• Exports: Total steel exports shipments from Turkey increased by 22.1% y-o-y to 12.7 mn t in Jan-Aug'21. The country exported 11.9 mn t of finished steel products and 0.8 mn t of semi-finished products in this period.
  
  
• Imports: Total steel imports into Turkey were recorded at 10.8 mn t, up 30.1% y-o-y in Jan-Aug'21. Out of this, finished steel imports were at 7.3 mn t and semi-finished imports at 3.5 mn t.