Turkey's Scrap Imports Decreased by 15.6%

According to the data provided by the Turkish Statistical Institute (TUIK), in February this year Turkey's steel scrap imports fell 15.6 percent compared to January and were down 40.6 percent compared to the same month of 2012, amounting to 1.3 million metric tons, which is the lowest monthly volume recorded since July 2010. The country's scrap imports in January this year had recorded a 15.55 percent month-on-month decline.

 
According to the data released by TUIK, Turkey's scrap import value was $508.6 million in February, down 14.7 percent compared to January this year and down 47.5 percent year on year. In February this year, the average price of Turkey's steel scrap imports stood at $398/mt, falling approximately $52/mt compared to the average of $450/mt recorded in the same month of 2012.
 
In February of the current year, Turkey imported 627,351 mt of steel scrap from the EU, maintaining a decreasing trend for the second consecutive month, falling 21.6 percent compared to the previous month and down 53.1 percent year on year, 452,679 mt of scrap from North America, falling 13.7 percent year on year and down 12.6 percent compared to January, and 102,616 mt of scrap from the CIS, decreasing by 40 percent year on year and down 8.9 percent month on month.
 
In the first two months of the year, Turkey's steel scrap imports amounted to 2.8 million mt, decreasing 23.6 percent compared to the same period of the previous year, with a value of $1.1 billion, down 31. 8 percent year on year.
 
Turkey's main scrap sources on country basis in the first two months of this year are presented in the chart below:

 
Turkey's top 10 steel scrap import sources in January-February 2013 are as follows: