Turkey increased its scrap imports to 9.95 million tons in H1

Import volumes increased by 3.6% y/y

In January-June 2024, steel enterprises of Turkey increased the import of scrap by 3.6% compared to the same period in 2023 – up to 9.95 million tons. This is evidenced by the data of the Turkish Statistical Institute (TUIK), SteelOrbis reports.

During June, Turkey imported 1.32 million tons of scrap, which is 8.3% more compared to June 2023, and 26.3% less m/m. The value of imports amounted to $546.76 million, which is 5.6% more y/y and 26.7% less m/m.

In June, the main suppliers of raw materials to Turkey are the USA – 352.89 thousand tons (+43.5% y/y), the Netherlands – 87.61 thousand tons (-18.5% y/y), Great Britain – 125.15 thousand tons (+435.7% y/y). During January-June, the USA shipped 2.12 million tons of scrap to Turkish consumers (+6.6% y/y), the Netherlands – 1.31 million tons (+20.5% y/y), Great Britain – 1.11 million tons (+50.8% y/y).

As GMK Center reported earlier, in 2023, Turkey reduced the import of scrap by 10% compared to 2022 – to 18.83 million tons. The decrease in the volume of scrap imports into the country was associated with the low workload of local steel mills.

Turkey ranks eighth in the world in terms of steel production. In 2023, Turkish steel enterprises reduced steel production by 14% compared to 2022 – to 33.7 million tons.

There are 29 steel enterprises located in Turkey, in particular, 3 – blast furnace type, and 26 – electric arc type. Their annual capacity for steel smelting is estimated at about 60 million tons. That is, in 2023, capacity utilization was at the level of 58.5%.