Increase in Scrap ImportsFrom 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 ImportsIn 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 PricesThe 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 MayThe  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).

US Scrap Exports to TurkeyFrom January to May 2024, the United States shipped a total of 1.77 million tons of scrap to Turkey.

Rebar ExportsTurkish rebar exports increased by 25.4% year-over-year, reaching 1.34 million tons in the first five months of 2024.

2023 Scrap Import ReductionIn 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 RankingTurkey 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 OverviewTurkey 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.