Turkey-world’s largest scrap importer witnessed a rise in its ferrous scrap imports in February as against imports recorded in Jan’18. As per recent customs data, Turkey imported 1.85 MnT ferrous scrap in Feb’18 witnessing a rise of 10% M-o-M as against 1.68 MnT ferrous scrap imports in Jan’18.
Monthly average imported scrap prices decreased in Feb’18 – Turkey witnessed fall in scrap prices in the first half of Feb’18.The monthly average import price moved down to USD 355/MT, CFR in Feb’18 as against USD 365/MT in Jan’18.
Rise in scrap imports in Feb’18 could be attributed to low scrap prices and improved supply in heating winters from major suppliers in Baltic and Europe regions including countries like UK, Netherland, Belgium and Denmark to Turkey.
However, after an announcement of tariffs on steel imports in USA, Turkey’s scrap import activities paused for 2-3 weeks in Mar’18 following which scrap imports in Mar’18 to Turkey are expected to fall significantly on M-o-M basis in Mar’18.
United Kingdom supplied highest volumes of ferrous scrap to Turkey in Feb’18-
In Feb’18, United Kingdom exported 0.31 MnT ferrous scrap registering 55% M-o-M rise against 0.20 MnT exports in Jan’18 to Turkey. United States stepped down at second largest exporter’s position witnessing 31% M-o-M fall in Feb’18. USA supplied 0.27 MnT as against 0.39 MnT in Jan’18.
Followed by other prominent exporters like Netherland (0.26 MnT, +100% M-o-M), Belgium (0.22 MnT, +120% M-o-M), Russia (0.14 MnT, -33% M-o-M) and Denmark (0.09 MnT, +300% M-o-M) respectively.
In Jan-Feb’18 two months period, United States supplied highest (0.66 MnT, +74% Y-o-Y) occupying 19% share in total ferrous scrap imports in Turkey. United Kingdom supplied 0.51 MnT ferrous scrap and remained the second highest exporter to turkey, following which other major exporters were Netherland (0.39 MnT), Russia (0.36 MnT) and Belgium (0.32 MnT) respectively.
Country-wise ferrous scrap imports to Turkey –
| Country | Feb’18 | Jan’18 | M-o-M % Change | Feb’17 | Y-o-Y % Change | Jan-Feb’18 | Jan-Feb’17 | Y-o-Y % Change |
| United States | 0.27 | 0.39 | -30.77% | 0.08 | 237.50% | 0.66 | 0.38 | 73.68% |
| United Kingdom | 0.31 | 0.20 | 55.00% | 0.16 | 93.75% | 0.51 | 0.33 | 54.55% |
| Netherland | 0.26 | 0.13 | 100.00% | 0.16 | 62.50% | 0.39 | 0.38 | 2.63% |
| Russia | 0.14 | 0.21 | -33.33% | 0.07 | 100.00% | 0.36 | 0.25 | 44.00% |
| Belgium | 0.22 | 0.10 | 120.00% | 0.17 | 29.41% | 0.32 | 0.37 | -13.51% |
| Others | 0.65 | 0.65 | 0.00% | 0.43 | 51.16% | 1.29 | 0.80 | 61.25% |
| Total | 1.85 | 1.68 | 10.12% | 0.99 | 86.87% | 3.53 | 2.51 | 40.64% |
Quantity in MnT,
Source: SteelMint Stats
Turkey scrap imports rise 41% Y-o-Y with increased EAF steel output in Jan-Feb’18 – On yearly premises, Turkey witnessed 41% growth in its ferrous scrap imports in first two months of CY18. Turkey imported 3.53 MnT ferrous scrap as against 2.51 MnT during Jan-Feb last year.
According to the data released by World Steel Association, crude steel production in Turkey stood at 3 MnT during Feb’18 compared to 2.76 MnT in Feb’17, which is up by 9% Y-o-Y.
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