Turkish scrap imports in October up 14% year-on-year
Turkish ferrous scrap imports continued to grow in October on higher steel output from electric arc furnace-based (EAF) mills, according to data released by the Turkish Statistical Institute (TUIK).
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According to the TUIK’s data, Turkey imported 2.03 million tonnes of scrap in October, which is 13.8% more than in the corresponding month in 2011.
October imports were also 13.2% higher than the 1.79 million tonnes imported in September.
The October imports were worth $804.82 million, which equates to roughly $396.60 per tonne cfr – slightly higher than the $396 per tonne cfr recorded for September.
Over January-October, Turkey’s imports of scrap totalled 18.88 million tonnes, which is 8.4% higher than in the same period in 2011.
Over the ten months, Turkey’s EAF mills produced 22.4 million tonnes of steel, which is also 7.6% higher than in January-October 2011.
The Turkish Iron & Steel Producers Assn (DCUD) revised its expectation for imports for the full year to 23 million tonnes from 24 million tonnes.
“We expected Turkey’s scrap imports to be 24 million tonnes for the full year of 2012, when we assumed crude steel output to be 37 million tonnes,” the DCUD said.
“But the slowdown in steel production, especially in slab production, over the recent months led us to revise our crude steel output forecast to 36 million tonnes. We expect Turkey to import 23 million tonnes of scrap in the full year of 2012,” it added.
The USA was, as usual, the Turkey’s largest scrap supplier in October, shipping 595,498 tonnes.
The UK was the second biggest exporter, with 305,589 tonnes.
The Netherlands was third with 279,664 tonnes, followed by Russia and Romania with 170,976 tonnes and 109,938 tonnes respectively.