Scrap Import Trade Recorded Substantial Surge in August

SEATTLE (Scrap Monster): The trade statistics published by the Turkish Iron and Steel Producers’ Association (TCUD) suggests significant surge in scrap imports by the country during the month of August this year. The country’s imports totaled around 1.9 million tonnes, higher by 21.1% when compared with the corresponding month last year. The Turkish scrap imports had totaled only around 1.57 million tons in August 2017.

The imports during Jan-Aug ’18 too were up by 12.8% over the previous year to total around 14.6 million tonnes. The imports from the EU region totaled around 9 million tons, thereby accounting for almost 61.2% of the total imports during this period. The imports recorded year-on-year jump by 9.3%. The second largest supplier was the U.S., whose supplies skyrocketed by 26% from the previous year. The Turkish imports from the U.S. totaled around 2.5 million tonnes, representing 17.3% of the total imports. In third place was the Commonwealth of Independent States (CIS) region, whose output rose sharply by 22.1% over the year to total nearly 2 million tonnes.

Meantime, the imports by South Korea skyrocketed by nearly 24% year-on-year in August to total around 560,000 tons. The cumulative imports during the initial eight-month period of the year were up by 10.8% when compared with the corresponding period last year. The country imported around 4.33 million tons of scrap during Jan-Aug ’18. Japan, Russia and the U.S. emerged as the top three scrap suppliers.