Turkey reduced scrap imports by 4.9% y/y in February

In February 2025, Turkish steel enterprises reduced imports of ferrous scrap by 4.9% compared to February 2024, to 1.55 million tons. The figure increased by 3.8% compared to the previous month. This is reported by Kallanish with reference to data from the Turkish Statistical Institute (TUIK).

The average price of scrap was $374/t in February compared to $444.5/t a year earlier and $374/t in January. The key suppliers of scrap to Turkey in February were the Netherlands – 355.19 thousand tons (+15.2% y/y), Belgium – 252.64 thousand tons (+57.5% y/y), the United States – 216.82 thousand tons (+19.8% y/y), the United Kingdom – 106.02 thousand tons (-38.7% y/y).

In January-February 2025, Turkey imported 3.05 million tons of scrap, which is 12.7% less than in the same period in 2024. Deliveries from the Netherlands reached 608.93 thousand tons. They were followed by the United States and Belgium.

As GMK Center reported earlier, in 2024, Turkey increased its imports of ferrous scrap by 6.7% compared to 2023, to 20.09 million tons. In December 2024, Turkish steelmakers imported 1.85 million tons of the relevant raw materials, up 11.1% compared to December 2023 and 25.5% month-on-month.

The key suppliers of raw materials in December are the United States – 304.55 thousand tons (-24.4% y/y), the Netherlands – 240.03 thousand tons (+1.6%), the United Kingdom – 246.31 thousand tons (+220.1%), Lithuania – 151.56 thousand tons (0 thousand tons in December 2023), Belgium – 189.64 thousand tons (+138.7%).

Turkey ranks eighth in the world in terms of steel production. In 2024, Turkish steelmakers increased steel production by 9.4% compared to 2023, to 36.89 million tons.