Increase in Scrap Imports:
From January to May 2024, Turkish steel enterprises increased scrap imports by 2.8% compared to the same period in 2023, totaling 8.66 million tons.
May 2024 Imports:
In May alone, Turkey imported 1.81 million tons of scrap, up 4.5% year-over-year and 19.1% month-over-month. Over 99% of these imports were for obsolete scrap grades.
Average Transaction Prices:
The average transaction price for scrap in May 2024 was $413.5 per ton, down from $451 per ton in May 2023 and $436 per ton in April 2024.
Main Suppliers in May:
The top suppliers of scrap to Turkey in May 2024 were the United States (394.9 thousand tons, -18.7% y/y), the United Kingdom (252.2 thousand tons, +222% y/y), and the Netherlands (226.14 thousand tons, +85.4% y/y).
2023 Scrap Import Reduction:
In 2023, Turkey reduced its scrap imports by 10% compared to 2022, totaling 18.83 million tons, primarily due to low utilization of local steel mills.
Steel Production Ranking:
Turkey ranks eighth in the world in terms of steel production. In 2023, Turkish steelmakers reduced steel production by 14% compared to 2022, producing 33.7 million tons.
Steel Mill Overview:
Turkey has 30 steel mills, including 4 blast furnace mills and 26 electric arc mills, with a combined annual steelmaking capacity of about 60 million tons.