Turkiye’s ferrous scrap imports were down by 14% to 1.38 million tonnes (mnt) in September 2022 compared to 1.6 mnt last month, as per Customs data. Imports were down due to lesser exports by major imported scrap suppliers like the UK and Netherlands. Suppliers remained reluctant to sell at sufficient discounts, while buyers needed time to accept the higher prices. Also, lower crude steel production led to such fall in scrap imports.
Similarly, on a y-o-y basis, scrap imports decreased by 10% as against 1.54 mnt in September 2021.
Additionally, a total volume of 16.62 mnt has been imported by the country from January to September 2022, a 16% fall compared to the volume imported in the corresponding period of last year.
Country-wise shipments
- US top exporter: The US was the top most supplier to Turkiye with 354,820 t in September, up 26% m-o-m. Turkiye remained the top importer of the US.
- Exports from Denmark surge: Denmark was the second largest exporter at 115,025 t, a mammoth hike of 302% m-o-m in volumes compared to just 28,600 t in the previous month.
- Shipments from the UK and Netherlands fall: The United Kingdom, one of the major exporters, reported 52,928 t of ferrous scrap exports in the month of September, 77% down as compared to 235,126 t in the preceding month. Exports from the Netherlands were down 59% to 93,480 t as compared to 229,500 t in the previous month.
Market scenario
- Crude steel output down: Turkiye’s crude steel production was 2.7 mnt in September, down 19.4% compared to the corresponding period last year, as per World Steel Association (WSA).
- Lira down against USD: The Turkish lira fell further against the dollar. One USD was 17.91 in July which was down to TRY 18.17 in August.
Outlook
The imported scrap trade is expected to be slow as the imported scrap market is likely to remain dull in the near term. Furthermore, rising production costs have made buyers skeptical, and mills will continue to cut their production levels. 
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