Turkey’s demand for import scrap increased further in July. The import volume in July alone came to 2.364 million mt, up 24.35 percent month on month, according to the data provided by Turkish Steel Producers' Association (TCUD). As SteelOrbis mentioned in its previous reports, Turkey’s scrap imports started to rise after the tough March-April period, with better numbers recorded in May and June, as Turkish mills' positions strengthened with demand for finished steel recovering slightly, resulting in somewhat higher capacity utilization rates. With the ongoing support from the semi-finished and finished steel markets, the improving situation was observed also in July.
In the January-July period of this year, Turkey's steel scrap import volume increased by 11.4 percent on year on year to 12.071 million metric tons. The value of these imports totaled $3.294 million, down 4.1 percent year on year. In the first seven months of the year, the EU maintained the leadership in Turkey’s scrap imports with a 61.2 percent share, followed by the US with 21 percent. The main sources of the imported scrap in Turkey in the first seven months of 2020 can be seen in the table below:
|
Imported tonnage Jan-July 2020 (mt) |
Change year on year (%) |
US |
2,538,274 |
+29.4 |
EU |
7,388,150 |
+5.9 |
CIS |
1,322,201 |
+2.6 |
Others |
823,122 |
+22 |
Total |
12,071,747 |
+11.4 |
Turkish mills have concluded an almost similar number of bookings for August shipments, with the numbers for August expected to indicate a slight month-on-month increase. Also, the number of cargoes bought for September shipment were lower than the number bought for August shipment, and so the actual tonnages may also be lower.
