In the January-March period of this year, Turkey's steel scrap import volume increased by 35.7 percent on year on year to 5.282 million metric tons, according to the data provided by Turkish Steel Producers' Association (TCUD). The value of these imports totaled $1.503 million, up 22.9 percent year on year.
While the scrap import volume in the January-February this year was 3.484 million mt, the import volume in March alone came to 1.798 million mt, up 51.6 percent month on month and 5.26 percent year on year.
In the first three months of the year, the EU maintained the leadership in Turkey’s scrap imports with a 40 percent share, followed by the US with 34 percent. The main sources of the imported scrap in the first three months of 2020 can be seen in the table below:
|
Imported tonnage Jan-Mar 2020 (mt) |
Change year on year (%) |
US |
984,053 |
+34 |
EU |
3,418,793 |
+40 |
CIS |
452,435 |
-2 |
Others |
317,000 |
+72 |
Total |
5,282,269 |
+35.7 |
The uncertainties surrounding international scrap flow as well as the global economy have resulted in a cautious mood in the Turkish scrap market. The April import figures are expected to be lower, while the import scrap volume booked for May shipments is similar to that booked for April.