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In December, imported scrap supplies to Turkish steelmakers increased by 31.1% y/y

In 2023, Turkish steelmakers reduced scrap imports by 10% compared to the previous month – to 18.83 million tons. This is evidenced by data from the Turkish Statistical Institute (TUIK), Kallanish reports.

In 2023 the United States was the largest supplier of raw materials to Turkish consumers – 4.49 million tons. They are followed by the Netherlands and Belgium.

In December, imports of scrap to Turkiye amounted to 1.66 million tons, up 31.1% compared to December 2022, and 6.8% compared to November. Imported scrap supplies to Turkish steelmakers have been growing for the third month in a row.

Outdated scrap accounted for more than 99%, or 1.65 million tons of December imports. The average price of this scrap was $385 per tonne, up from $367 per tonne in December 2022 and $388 per tonne in November 2023.

The five largest scrap suppliers in December were the United States – 402 thousand tons (+41.4% y/y), the Netherlands – 236 thousand tons (+104% y/y), Denmark – 123.7 thousand tons (+76.2% y/y), Romania – 102.8 thousand tons (+33.8% y/y), and Venezuela – 97.15 thousand tons (+263% y/y).

As GMK Center reported earlier, in 2022, Turkiye reduced scrap imports by 16.5% compared to 2021, to 20.93 million tons. The decrease in scrap imports to the country was due to low utilization of local steel mills in the second half of 2022.

Turkiye 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.