Turkiye’s ferrous scrap imports increased by 8% to 1.36 million tonne (mnt) in January 2023 compared to 1.26 mnt in December, as per Customs data maintained with SteelMint. Import volumes increased due to an improved sourcing from other nations like Libya and Israel.
The country’s steelmakers produced 2.6 mnt of steel In January 2023. Steel producers have reduced production by 0.2% compared to December 2022 to 2.605 mnt, as per World Steel Association data.
Furthermore, rebars export volumes increased by 17% m-o-m in Jan’23 to 0.35 mnt from 0.30 mnt in Dec’22, as per data recently released by Customs. On the other hand, Turkiye’s steel billets imports fell by 13% m-o-m to 0.40 mnt in Jan’23 from 0.46 mnt in Dec’22.
Country-wise shipments-
US top exporter: The US remained the top scrap exporter to Turkiye in January at 0.25 mnt, despite a 14% drop compared to the previous month. Reasonable import prices from other origins and an easy shipment process diverted Turkish buyers’ interest causing less import volumes from the US.
Shipments from Belgium get a boost: Belgium exported 0.15 mnt to Turkiye in January, which rose by 275% as compared to 0.04 mnt in December. Shipments from Germany increased by 75% m-o-m at 0.84 mnt in January against 0.48 mnt in the previous month.
Imports from Romania increase m-o-m: Imports from Romania were at around 0.09 mnt in January, a 13% addition as compared to the last month which was 0.08 mnt.
Other updates-
Crude steel output declines y-o-y in Jan’23: Turkiye’s crude steel production was recorded at 2.6 mnt in January, down 17.6 % compared to CPLY, as per World Steel Association (WSA) data.
Lira slightly down against USD: The value of Turkish lira dropped to 18.81 in January which was 18.68 in December.
Outlook: Ferrous scrap imports might increase in the upcoming weeks as recent earthquakes hit the country’s infrastructure badly. This will require further reconstruction so semi-finished and finished steel products might get consumed more as compared to before.
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