Turkiye reduced scrap imports by 6.4% y/y in August

In August 2023, steel enterprises of Turkiye reduced the import of scrap by 6.4% compared to the same month in 2022 – to 1.51 million tons. Compared to July, the figure fell by 20.1%. This is evidenced by the data of the Turkish Statistical Institute (TUIK). Kallanish reports about it.

More than 99% or 1.502 million tons of August imports were obsolete scrap grades. The average price of this raw material was $392/t against $396/t in August 2022 and July 2023.

The USA was the largest supplier in August – 337.2 thousand tons, which is 19.9% ​​more y/y. Belgium shipped 170.3 thousand tons of scrap to Turkiye compared to 114.6 thousand tons in August 2022, Denmark – 136.8 thousand tons (+108.2% y/y), Great Britain – 135 thousand tons (-41.3% y/y), the Netherlands – 120.1 thousand t (-47.6% y/y).

In January-August 2023, the import of scrap to Turkiye fell by 15.8% compared to the same period of the previous year – to 13.03 million tons. The United States shipped the most raw materials during this period – 2.95 million tons. The Netherlands is in the second place, in the third – Belgium.

At the same time, Turkish exports of rebar decreased by 48.1% y/y for January-August – to 2.07 million tons.

As GMK Center reported earlier, in 2022, Turkiye reduced the import 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 associated with the low workload of local steel mills in the second half of 2022.

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