Turkey’s scrap imports rise by 5.8 percent in January-May

Thursday, 02 July 2020 11:33:37 (GMT+3)   |   Istanbul
       

In the January-May period of this year, Turkey's steel scrap import volume increased by 5.8 percent on year on year to 8.173 million metric tons, according to the data provided by the Turkish Steel Producers' Association (TCUD). The value of these imports totaled $2.288 million, down 7.4 percent year on year.

The import volume in May alone came to 1.168 million mt, up 16.67 percent month on month.

In the first five months of the year, the EU remained the leading supplier of steel scrap to Turkey, accounting for a 62.8 percent share of its scrap imports, followed by the US with 20.5 percent. The main sources of Turkey’s scrap imports in the first five months this year can be seen in the table below:

 

Imported tonnage Jan-May 2020 (mt)

Change year on year (%)

US

1,672,778

+22.9

EU

5,134,582

+1.5

CIS

759,180

-9.8

Others

606,411

+31.2

Total

8,172,951

+5.8

 

As mills concluded more bookings for June shipments, the scrap import volumes are expected to indicate a significant month-on-month rise in June. Also, the number of cargoes bought for July shipments was similar to the number bought for June shipment, while the respective tonnages are expected to be similar.


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