Turkey increased scrap imports to 11.6 million tons in January-July

Import volumes increased by 0.5% y/y

In January-July 2024, steel enterprises in Turkey increased scrap imports by 0.5% compared to the same period in 2023 – up to 11.55 million tons. This is evidenced by data from the Turkish Statistical Institute (TUIK), SteelOrbis reports.

In July, Turkey imported 1.59 million tons of scrap, which is 15.4% less compared to July 2023, and 20.5% more m/m. The value of imports amounted to $656.41 million, down 12.4% y/y and 20.1% m/m.

The main suppliers of raw materials to Turkey in July are the USA – 345.2 thsd tonnes (-44.3% y/y), the Netherlands – 135.98 thsd tonnes (-28.7% y/y), the UK – 250.98 thsd tonnes (+66.8% y/y). In January-July, the United States shipped 2.47 million tons of scrap to Turkish consumers (-5.5% y/y), the Netherlands – 1.45 million tons (+13.1% y/y), and the United Kingdom – 1.36 million tons (+53.6% y/y).

As GMK Center reported earlier, in 2023, Turkey reduced its scrap imports by 10% compared to 2022, to 18.83 million tons. The decrease in scrap imports to the country was due to low utilization of local steel mills.

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

There are 29 steel mills in Turkey, including 3 blast furnace mills and 26 electric arc mills. Their annual steelmaking capacity is estimated at about 60 million tons. That is, in 2023, capacity utilization was at the level of 58.5%.