Scrap exports from United States to Turkey hiked more than three folds M-o-M in Sept’17.
Turkey-world’s largest importer of ferrous scrap has raised its ferrous scrap imports by 50% in Q3 CY17 on comparison against imports during Q3 CY16. Turkey imported 5.59 MnT ferrous scrap in Q3 CY17 against 3.73 MnT ferrous scrap imports in Q3 CY16, while imports have grown by 11% Q-o-Q against 5.05 MnT imports in Q2 CY17.
As per customs data, Turkey imported 2.01 MnT ferrous scrap in Sept’17 the imports increased by 29% M-o-M against 1.56 MnT in Aug’17.
On yearly premises, Turkey witnessed rise in its ferrous scrap imports by 46% Y-o-Y in Sept’17 as the country had imported 1.38 MnT ferrous scrap in Sept’16. Rise in scrap imports could be attributed to fall in scrap import prices by USD 12-15/MT M-o-M in Sept’17, prices dropped sharply in the second half of Sept’17 with an increase in trading activities.
During first nine months of CY17, Turkey has imported 14.90 MnT of ferrous scrap, up 16% Y-o-Y against 12.90 MnT ferrous scrap imports during the same period of CY16 (Jan-Sept’16).
Turkey’s scrap imports rise with increased EAF steel output – According to the data released by World Steel Association, crude steel production in Turkey stood at 27.7 MnT during Jan-Sept’17 compared to 24.4 MnT in the same time frame last year, up by 14% Y-o-Y. Thus, increased scrap consumption by Turkey-based EAF firms have resulted in increased crude steel production.
United States continue to remain preferred source for ferrous scrap to Turkey –
United States supplied highest 0.38 MnT ferrous scrap in Sept’17 followed by other prominent exporters like United Kingdom (0.32 MnT), Russia (0.31 MnT), Netherlands (0.29MnT) and Belgium (0.24 MnT) in Sept’17.
United States ferrous scrap exports to Turkey increased more than three-fold in Sept’17 compared with 0.11 MnT imports of the previous month. Belgium and Netherland have seen 85% and 53% M-o-M rise in scrap exports to Turkey in Sept’17 respectively.
During first nine months of CY17 (Jan-Sept’17), United States exported highest 2.41 MnT occupying 16% share in total Turkey ferrous scrap imports.
United Kingdom stood as the second highest exporter with 2.25 MnT ferrous scrap exports following which other major exporters were Netherland (1.91 MnT), Belgium (1.71 MnT) and Russia (1.69 MnT) during Jan-Sept’17 to Turkey.
Snapshot of imported ferrous scrap offers to Turkey – Imported ferrous scrap (HMS 80:20) offers from USA dropped by USD 12-15/MT M-o-M in Sept’17.The monthly average prices stood at USD 337/MT, CFR in Sept’17 against USD 352/MT, CFR Turkey in Aug’17. In Jul’17, the monthly average prices were assessed at USD 303/MT, CFR Turkey.
Country-wise ferrous scrap imports to Turkey –
| Country | Sept’17 | Aug’17 | M-o-M % Change | Sept’16 | Y-o-Y % Change | Jan-Sept’17 | Jan-Sept’16 | % Change |
| United States | 0.38 | 0.11 | +245.45% | 0.30 | +26.67% | 2.41 | 2.48 | -2.82% |
| United Kingdom | 0.32 | 0.32 | 0.00% | 0.19 | +68.42% | 2.25 | 1.85 | +21.62% |
| Netherland | 0.29 | 0.19 | +52.63% | 0.21 | +38.10% | 1.91 | 1.81 | +5.52% |
| Belgium | 0.24 | 0.13 | +84.62% | 0.08 | +200.00% | 1.71 | 1.31 | +30.53% |
| Russia | 0.31 | 0.28 | +10.71% | 0.20 | +55.00% | 1.69 | 2.09 | -19.14% |
| Others | 0.47 | 0.53 | -11.32% | 0.40 | +17.50% | 4.93 | 3.36 | +46.73% |
| Total | 2.01 | 1.56 | +28.85% | 1.38 | +45.65% | 14.90 | 12.90 | +15.50% |
Quantity in MnT
Source: SteelMint Stats
Leave a Reply