Monthly ferrous scrap imports to Turkey climbed to highest so far in CY17 with 2.14 MnT import volumes in October month. Scrap imports to Turkey hiked by 74% Y-o-Y in Oct’17.
Turkey-world’s largest importer of scrap has witnessed highest ferrous scrap imports so far in CY17 in Oct’17.As per recent customs data, Turkey imported 2.14 MnT ferrous scrap in Oct’17, the imports climbed marginally by 6% M-o-M against 2.01 MnT in Sept’17.
Notably, scrap imports in Oct’17 reached highest since previous four years. The monthly ferrous scrap imports achieved highest earlier to this was at 2.16 MnT in Sept’13.
On yearly premises, Turkey witnessed rise in its ferrous scrap imports by significant 74% Y-o-Y in Oct’17 as the country had imported 1.23 MnT ferrous scrap in Oct’16.
Rise in scrap imports could be attributed raised restocking activities in Turkey well before winters amid fall in average scrap import prices by USD 20-30/MT M-o-M in Oct’17.Imported ferrous scrap HMS 1&2 (80:20) offers from USA dropped by USD 20-30/MT in Oct’17.
The monthly average prices stood at USD 307/MT, CFR in Oct’17 against USD 337/MT, CFR Turkey in Sept’17. In Aug’17, the monthly average prices were assessed at USD 352/MT, CFR Turkey.
During first ten months period of CY17, Turkey has imported 17.04 MnT of ferrous scrap, up 21% Y-o-Y against 14.13 MnT ferrous scrap imports during the same period of CY16 (Jan-Sept’16).
Turkey scrap imports rise with increased EAF steel output – According to the data released by World Steel Association, crude steel production in Turkey stood at 30.95 MnT during Jan-Oct’17 compared to 27.42 MnT in the same time frame of last year, which was up by 13% Y-o-Y. Increased scrap consumption by Turkey-based EAF firms has resulted in increased crude steel production.
United States continue to remain preferred source for ferrous scrap to Turkey –
United States supplied highest 0.55 MnT ferrous scrap in Oct’17 followed by other prominent exporters like Netherlands (0.32 MnT), Russia (0.30 MnT), United Kingdom (0.21 MnT) and Belgium (0.08 MnT) in Oct’17.United States ferrous scrap exports to Turkey increased by 45% M-o-M in Oct’17 compared with 0.38 MnT imports of the previous month.
During first ten months of CY17 (Jan-Oct’17), United States exported highest 2.96 MnT occupying 18% share in total Turkey ferrous scrap imports.
United Kingdom stood as the second highest exporter with 2.46 MnT ferrous scrap exports following which other major exporters were Netherland (2.22 MnT), Russia (2.00 MnT) and Belgium (1.79 MnT) during Jan-Oct’17 to Turkey.
Country-wise ferrous scrap imports to Turkey –
| Country | Oct’17 | Sept’17 | M-o-M % Change | Oct’16 | Y-o-Y % Change | Jan-Oct’17 | Jan-Oct’16 | % Change |
| United States | 0.55 | 0.38 | +44.74% | 0.21 | +161.90% | 2.96 | 2.69 | +10.04% |
| United Kingdom | 0.21 | 0.32 | -34.38% | 0.18 | +16.67% | 2.46 | 2.03 | +21.18% |
| Netherland | 0.32 | 0.29 | +10.34% | 0.10 | +220.00% | 2.22 | 1.91 | +16.23% |
| Belgium | 0.08 | 0.24 | -66.67% | 0.19 | -57.89% | 1.79 | 1.50 | +19.33% |
| Russia | 0.30 | 0.31 | -3.23% | 0.18 | +66.67% | 2.00 | 2.27 | -11.89% |
| Others | 0.68 | 0.47 | +44.68% | 0.37 | +83.78% | 5.61 | 3.73 | +50.40% |
| Total | 2.14 | 2.01 | +6.47% | 1.23 | +73.98% | 17.04 | 14.13 | +20.59% |
Quantity In MnT,
Source: SteelMint Stats
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