With the recent release of trade data by Turkish Customs, the nation imported 0.99 MnT Ferrous scrap in Feb’17, witnessed a downfall in ferrous scrap import by 35% M-o-M against 1.52 MnT imported in Jan’16. However, there is a decrease in ferrous scrap import by 14% Y-o-Y against 1.15 MnT imported in same period last year.
Turkey imported 0.08 MnT Ferrous Scrap from USA in Feb’17, registered a decrease of 73% M-o-M against 0.30 MnT imported in Jan’16. Scrap imports from Russia also reduced by a big margin of 61% as the country imported 0.07 MnT in Feb’17 compared to 0.18 MnT in Jan’17.
According to SteelMint Analysis, due to strong domestic demand in the US the exports from the country have reduced which hit Turkey scrap imports to a great extent. Another reason for reduced scrap import in Turkey seems to be reduced production of crude steel that have reduced almost by 6% in Feb’17.
As the countries importing trends suggest, Turkish imports may return strongly very soon.
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