Date: 14 January 2019 , 22:49
News ID: 3259

Turkey: Ferrous Scrap Imports Fall 12% in Nov'18

US scrap exports drop 40% while that from Russia decline 61% M-o-M in Nov’18
Turkey: Ferrous Scrap Imports Fall 12% in Nov

Turkey-world’s largest scrap importer has observed a considerable fall of 12% M-o-M in scrap imports in Nov’18. Low finish steel demand and rise in semi-finish imports could have resulted in declined scrap imports despite a correction in global scrap prices in Nov’18.

As per recent customs data, the country imported 1,509,115 MT ferrous scrap in Nov’18, down 12% M-o-M as against 1,710,104 MT ferrous scrap in Oct’18. On yearly premises, scrap imports declined by 19% Y-o-Y in Nov'18 as against 1,869,008 MT ferrous scrap in Nov'17.

USA remained the largest scrap exporter to Turkey - USA supplied 236,982 MT ferrous scrap in Nov’18, down 40% M-o-M occupying highest 16% share in Turkey’s total scrap imports. Netherland stepped up at second largest supplier position in Nov'18 supplying 207,291 MT, up 90% M-o-M.

Russia supplied 107,938 MT ferrous scrap in Nov'18, down 61% M-o-M as against 279,023 MT in Oct'18.

Other prominent suppliers were United Kingdom (156,042 MT, -22% M-o-M), Belgium (126,545 MT, +126% M-o-M), Denmark (81,575 MT, +3% M-o-M) and Canada (51,161 MT, -51% M-o-M) to Turkey in Nov’18.

On the other hand, Turkey observed a sharp rise in Billet imports to 314,314 MT, up 111% M-o-M in Nov'18 while it imported 76,591 MT of pig iron in Nov'18, down 43% M-o-M.

Turkey imported scrap prices plunge after a marginal rise in Nov’18 - The monthly average import price for USA HMS (80:20) stood at USD 332/MT, CFR Turkey in Nov’18 almost stable as against Oct'18. However, after the second half of Nov'18 global scrap prices tumbled sharply by USD 30-40/MT to an average of USD 295/MT in Dec'18 amid a possibility of cheaper Chinese exports, seasonal concerns and dull finish steel demand.

Turkey imported 17.48 MnT ferrous scrap in Jan-Nov’18 witnessing a rise 3% Y-o-Y as against 17.03 MnT during the same period last year. Scrap imports remained strong despite high global scrap prices amid firm EAF steel outputs in the country as against last year.

According to the data released by World Steel Association, crude steel production in Turkey stood at 34.43 MnT during Jan-Nov’18 which is marginally up as against 34.26 MnT in the same period last year. Production stood almost stable on a monthly basis at 3.14 MnT in Nov'18.

source: SteelMint