Turkey’s ferrous scrap imports continued to rise in November, matching the strong increase in crude steel production by Turkish steel mills in a buoyant finished products market. This is reported by spglobal.com.
Scrap imports from the USA slump
Two EU countries, the Netherlands and the UK, became Turkey’s top scrap suppliers in November as imports from the US, Turkey’s largest scrap supplier, slumped in the month.
Turkey increases crude steel production by 11.6
Turkey, which is Europe’s second-largest steel producer after Germany, increased crude steel output by 11.6% year-on-year to 3.22 million tons in November.
As a result, despite the negative impact of the pandemic, crude steel production at Turkish mills reached 32.4 million mt in the first eleven months of 2020, up 4.9% year-on-year.
Turkish scrap imports rise by 400,000 mt
According to the latest data from the Turkish Statistical Institute (TUIK) monitored by S&P Global Platts, scrap imports from Turkish metallurgical plants reached 2.04 million mt in November, up from 1.62 million mt in the same month last year. This import figure was also slightly higher than the previous month.
US scrap suppliers with availability problems
With U.S. suppliers focusing mainly on meeting domestic mills’ demand in November due to availability issues, Turkish mills’ scrap imports from their traditionally largest supplier fell to 240,800 mt in November, well below the 301,500 mt imported in the same month a year earlier.
Two EU countries became Turkey’s largest scrap suppliers in November. The Netherlands supplied 323,500 mt of ferrous scrap to Turkey in the month, while imports from the UK reached 250,300 mt, up 17% year-on-year.
Source: spglobal.com
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