Deep-Sea Scrap Purchases by Turkish Steel Mills Dipped

SEATTLE (Scrap Monster): The trade statistics by Turkish authorities point to dip in scrap imports by the country during the month of June this year.

The steel mills in the country purchased 23 batches of deep-sea scrap during the month, compared with 28 batches purchased in May this year. Out of this, 11 batches came from the U.S. and Canada. Also, North American exporters accounted for only 7% of the total Turkish scrap import volume.

The Turkish demand for scrap recorded notable increase during the initial week of July this year. As per sources, mill in the country are seen to be procuring their August shipment scrap requirement before the upcoming national holiday in mid-July. The mills anticipate a strong rebar export sales during the forthcog weeks, which in turn may put the global scrap prices face an upward pressure.

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It must be noted that the Turkish scrap imports had totalled around 2.03 million tonnes in May 2021, recording a month-on-month growth by 23%. The imports from the EU accounted for 56% of the import volume, whereas the share of the U.S. and UK stood at 13.8% and 11.9% respectively.

Meantime, the Taiwanese scrap imports too were curtailed during the month, primarily due to electricity curtailment measures. The purchases by arc furnaces continued to remain weak, despite rebound in demand for rebars.