Turkey-world’s largest importer of ferrous scrap has registered hike in its ferrous scrap imports with 2.1 MnT of imports in May’17. However, nation imported 1.66 MnT of ferrous scrap in Apr’17 registering 27% M-o-M growth. Turkish steel mills were seen restocking scrap cargoes ahead Ramadan festival in Jun’17 which resulted in higher scrap imports in May’17.
Turkey’s ferrous scrap imports were amplified further by 24% Y-o-Y against 1.7 MnT in May’16.
During period of Jan-May of CY17 turkey has imported 8.01 MnT of ferrous scrap against 7.22 MnT of imports in the same period in CY16, up 11% Y-o-Y.
Turkey’s geographical location amplifies its significance in steel industry. Turkey Borders Eight Countries and 3 seas makes it vital in acquisition of steelmaking raw materials and in overseas trade markets. The country is ramping up its steel capacities this year.
United States accounted for largest share in Turkey’s ferrous scrap imports
United States remained largest shareholder of Turkeys ferrous scrap imports at 0.38 MnT of in May’17 against 0.17 MnT in Apr’17. Total 1.38 MnT of ferrous scrap have shipped from US to turkey, so far in CY17 .
However, United Kingdom has slide down from top position in Apr’17 to 3rd largest scrap exporter to Turkey at 0.26 MnT in May17. Netherlands rose in the table to 2nd position with 0.32 MnT exports in May’17.
Other major exporter were Belgium and Russia at 0.21 MnT and 0.17 MnT respectively in May’17.
|
Main Investors |
Total Imports in May’17 |
Total Imports in Apr’17 |
M-o-M (% Change) |
Total imports |
| United States | 0.38 | 0.17 | 123.52 % | 1.38 |
| Netherland | 0.32 | 0.24 | 33.33 % | 1.14 |
| United Kingdom | 0.26 | 0.27 | -3.70 % | 1.12 |
| Belgium | 0.21 | 0.22 | -4.54 % | 0.98 |
| Others | 0.93 | 0.76 | 22.36 % | 3.39 |
|
Total |
2.1 | 1.66 | 26.50 % |
8.01 |
Import fig in MnT
Provisional data
Source: Customs, SteelMint Research
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