Turkish Steel Mills Boost Ferrous Scrap Cargo Purchases

SEATTLE (Scrap Monster): The purchase of deep sea bulk ferrous scrap cargoes for June shipment by Turkish steel mills witnessed notable surge, upon comparison with the prior months. The rising scrap appetite reflects the surge in demand for steel following lifting of pandemic-related restrictions by many countries.

A total of 22 deep-sea cargoes were purchased for June shipment until now. The purchase volumes totalled around 630,000 t. The number of sea cargoes is significantly higher when matched with 16 and 15 purchased for April and May shipment respectively. The volumes had totalled 489,000 t in April and 472,000 t in May this year. Nine out of the 22 June shipment purchases were made by Continental Europe. Also, the U.S. made four of the shipments.

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Meantime, the domestic rebar sales hit the highest level in second week of May this year. An Izimir mill recorded sales of 750,000 t over a period of four days. The volume of rebar sales had never hit those levels in March or April.

The export sales too posted notable increase. Turkish mills have sold nearly 150,000 t to southeast Asian region by mid-May this year. There has been increased demand from multiple overseas markets including the U.S. The combined sales during April and May had totalled only 150,000 t.