Turkish Scrap Imports Surged by a Third in H1 This Year

SEATTLE (Scrap Monster): The Turkish scrap imports totalled around 2 million tons during the month of June this year, marginally higher by 0.5%, when compared with the prior month. This is as per latest trade statistics published by the Turkish Iron and Steel Producers’ Association (TCUD).

The largest supplier of scrap to Turkey was the EU region, which accounted for approximately 55% of the total scrap imports. The other primary suppliers were the U.S and the UK.

The country’s scrap imports amounted to nearly 12.87 million tons and were valued at around $5.4 million during the initial six-month period of the year. The largest sources of scrap imports were EU (7.112 million mt), the U.S. (1.775 million mt) and the UK (1.398 million mt).

The import volumes surged higher significantly by almost one-third from the corresponding half-yearly period a year before. The surge in imports was mainly attributed to the hike in finished steel prices in the international market and increased demand for scrap from domestic steel mills on the back of healthy order book.

The import scrap bookings for July shipments are likely to be higher than for June shipments. It must be noted that the country had imported 2.384 million mt of scrap in July last year.

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