Ferrous Scrap Imports by Turkey Soared in August, Says TCUD

SEATTLE (Scrap Monster): The latest statistics published by the Turkish Iron and Steel Producers’ Association (TCUD) suggests notable rise in volume of ferrous scrap imports by the country during the month of August this year.

The scrap imports totalled around 1.6 million tons during the month. This is significantly higher by 17.5% when compared with the prior month. However, upon comparison with the same month a year before, the imports recorded notable decline by 19.8%. The imports had totalled 1.99 million tons in August 2021.

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The cumulative scrap imports by the country totalled around 15.6 million tons during the initial eight-month period in 2022. The Jan-Aug ’22 imports declined by 10.3% when compared with the same period a year before. The value of imports stood at $7.7 billion, edging higher by 2.5% from the corresponding period a year before.

The top three sources of import were the EU, the U.S. and the UK. The imports from EU recorded year-on-year decline of 15.2% to total around 7.88 million tons. The imports from U.S. rose by almost 30% to nearly 2.89 million tons during Jan-Aug ’22. On the other hand, the cumulative Turkish scrap imports from the UK were down by 14.5% year-on-year to total around 1.53 million tons, said TCUD data.