Turkiye’s ferrous scrap imports increased by 4% to 1.44 million tonnes (mnt) in October 2022 compared to 1.38 mnt in September, as per customs data. Imports rose due to the addition of exports by major suppliers like Belgium, the Netherlands, and Germany.
After a downtrend in imports during September, volumes recovered as Turkish mills started procuring from different origins.
However, on a y-o-y basis, scrap imports decreased by 7% as against 1.55 mnt in October 2021. A total of 18.06 mnt was imported by Turkiye from January to October this year, 9% lower than the corresponding period last year.
Country-wise shipments
- US top exporter: The US retained the top exporter to Turkiye at 278,623 t in October despite the fact that exports decreased by more than 21%.
- Exports from Belgium, Netherlands recover: Belgium emerged as the second largest exporter at 186,588 t, a staggering growth of 146% m-o-m compared to 75,703 t in September. From the Netherlands, shipments rose to 160,772t in October, up 72% m-o-m.
- Shipments from UK, Venezuela down: The United Kingdom, a major exporter to Turkiye, reported 23,043 t of ferrous scrap exports in October, down 56% compared to 52,928 t in the previous month. Exports from Venezuela fell 57% to 33,769 t compared to 77,948 t in September.
Market scenario
- Crude steel output declines: Turkiye’s crude steel production was 2.9 mnt in October, 17.8% lower compared to the corresponding period last year, as per World Steel Association (WSA).
- Lira largely stable against USD: The Turkish lira fell slightly against the dollar. One USD was 18.17 in August, which was down to TRY 18.51 in September.
Outlook
Demand for semi-finished and finished steel is anticipated to increase in the upcoming winter season, which may trigger a surge in import volumes in the near term.
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