Türkiye - Latest news GMK Center

Suppliers hold back scrap sales, expecting better prices

Forecasts are based on the stabilization of factors related to the war in Ukraine and a decrease in energy prices

In 2022, the import of scrap metal decreased by 16.5% on an annual basis

European producers have not managed to increase prices, and the Asian market is defined with trends

Scrap quotations in Turkiye for the week of January 23-30, 2023, increased to $420/t

The import duty on hot-rolled coils has increased from 9% to 15%, and on cold-rolled coils – from 10% to 17%

Lower prices will help Turkish steel producers, whose competitiveness is at a low level

The country's steelmakers can regain competitiveness in the second half of 2023

In January-November 2022, deliveries of Ukrainian pig iron to Turkish steelmakerts decreased by 50.3% year-on-year

The agreement, in particular, provides for the possibility of joint investment in new port facilities

Scrap quotations in Turkiye for the week of January 16-23, 2023, decreased to $410/t

The industry was affected by the war in Ukraine and high energy prices