Türkiye reduced scrap imports by 19.5% y/y in April

In April 2023, Turkish steel companies reduced the import of scrap by 19.5% compared to April 2022 – to 1.74 million tons. This is evidenced by the data of the Turkish Statistical Institute (TUIK), reports Kallanish.

More than 99% or 1.735 million tons of April imports were obsolete grades of scrap. The average price of this raw material was $441/t against $548/t in April 2022 and $426/t in March 2023.

The Netherlands was the largest supplier in April – 304.8 thousand tons, up 12.5% ​​y/y. The United States shipped 298.97 thousand tons of scrap to Turkiye (+13.5% y/y), Belgium – 192.3 thousand tons (+1.2% y/y), Denmark – 174.6 thousand tons (-8.8% y/y), the UK – 137.7 thousand tons (-50% y/y).

In January-April 2023, the import of scrap to Turkiye fell by 23% compared to the same period of the previous year – to 6.68 million tons. The United States shipped the most raw materials during this period – 1.26 million tons. The Netherlands is in the second place, and in the third – Belgium.

At the same time, Turkish rebar exports more than halved in January-April to 874.94 thousand tons.

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

Türkiye ranks eighth in the world in terms of steel production. In 2022, Turkish steel companies reduced production of steel by 12.9% compared to 2021 – to 35.1 million tons.