Turkey’s demand for import scrap strengthened further in June. The import volume in June alone came to 1.535 million mt, up 18.78 percent month on month, according to the data provided by Turkish Steel Producers' Association (TCUD). Turkey’s scrap imports started to rise after the tough March-April period and the better numbers recorded in May, with mills' positions strengthening as demand for finished steel recovered slightly, resulting in somewhat higher utilization rates.
In the January-June period of this year, Turkey's steel scrap import volume increased by 7.8 percent on year on year to 9.708 million metric tons. The value of these imports totaled $2.674 million, down 6.9 percent year on year. In the first six months of the year, the EU maintained its leading position as supplier of Turkey’s scrap imports, with a 62.5 percent share, followed by the US with 20.3 percent. The main sources of imported scrap arriving in Turkey in the first six months of 2020 can be seen in the table below:
|
Imported tonnage Jan-June 2020 (mt) |
Change year on year (%) |
US |
1,965,853 |
+21 |
EU |
6,070,690 |
+3.4 |
CIS |
996,800 |
-1.2 |
Others |
674,378 |
+11.21 |
Total |
9,707,721 |
+7.8 |
Turkish mills concluded more bookings for July shipments, and so the import scrap figures are expected to indicate a month-on-month rise in July. Also, the number of cargoes bought for August shipment were higher than those for July shipment, and so tonnages are expected to continue to move up in August.
