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Metal Recycling News February 28, 2017 12:30:15 PM

Ferrous scrap imports by Turkey surged higher by 9% in 2016

Paul Ploumis
ScrapMonster Author
The Turkish ferrous scrap imports totaled 17.72 million tonnes in 2016. This is significantly higher by nearly 9% when matched with the year before that.

Ferrous scrap imports by Turkey surged higher by 9% in 2016

SEATTLE (Scrap Monster): According to data published by the Turkish Statistical Institute (TUIK), the country’s ferrous scrap purchases surged higher during the entire calendar year 2016. The purchase price of ferrous scrap during the year declined considerably during the year. The country continued to remain as the world’s leading scrap importer, TUIK data said.

The Turkish ferrous scrap imports totaled 17.72 million tonnes in 2016. This is significantly higher by nearly 9% when matched with the year before that. The country had imported 16.25 million tonnes of scrap in 2015. The rise in imports is in line with the increase in production of crude steel by electric arc furnaces (EAFs), which uses scrap as raw material. As per figures released by the Turkish Steel Producers Association (TCUD), the EAF crude steel output jumped higher significantly by nearly 7% over the previous year to total 21.87 million tonnes. Meantime, the value of scrap imports dropped sharply by more than 7.6% from $4.3 billion in 2015 to $3.96 billion in 2016.

The largest exporter of scrap to Turkey in 2016 was the US. The imports from the US totaled 3.26 million tonnes, accounting for just over 18% of the total imports by Turkey during the month. The imports from the country declined considerably by more than 15% when compared with the 2015 imports. USA’s scrap exports to Turkey had totaled 3.84 million tonnes in 2015. The second largest exporter of scrap to Turkey was the UK. The imports from the UK surged higher significantly by 6.1% year-on-year to total 2.61 million tonnes, constituting nearly 15% of total Turkish scrap imports. In third place was Russia with 2.53 million tonnes. The Turkish ferrous scrap imports from Russia were up by nearly 5% in 2016. The top three sources of imported scrap by Turkey accounted for 47% share of the country’s total scrap imports during the entire year 2016.

Meantime, the rising trend in imported scrap prices has resulted in hike in domestic scrap buying prices by Turkish mills. The purchase price of HMS 1&2 (80:20) from the US during last week touched levels of $283 per metric ton CFR, which is significantly higher when matched with the prices during the week prior to that. The scrap purchase price of dollar-dominated melting scrap from ship breaking has increased by $10 per metric ton over the previous week to as high as $250 per metric ton. The buying price of lira-dominated auto bundle scrap too increased during last week. The price of auto bundle scrap in northern Turkey ranged between $266 per metric ton and $269 per metric ton, notably up from the prior week. In line with rising scrap prices, Turkish billet prices have also strengthened.

The production data for the first month of the current year signals a positive start. The country’s crude steel output, which had recorded 5.2% jump in 2016, has increased by 12.8% in January 2017 in comparison with Jan ’16. Incidentally, the country is world’s eighth largest crude steel producer. Also, EAF crude steel output surged higher by nearly 14% during the month. The TCUD data also indicates that billet and slab production by Turkey increased by 3.6% and 38.2% respectively during Jan ‘17.

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