Posted on 01 Apr 2019
Turkish scrap imports plummeted -49% on-year in February to 945,291 tonnes, their lowest monthly tonnage since February 2010, according to Turkish Statistical Institute (TUIK) data monitored by Kallanish. Their average value was $296.3/tonne versus $338.8/t in February 2018.
Turkish monthly scrap imports have fallen below 1 million tonnes on only one other occasion in this decade, in February 2017 when they were at 991,786t.
Approximately 99% of the February-2019 imports were obsolete scrap, of which the US supplied 185,296t, down -31%. The Netherlands and Russia provided 109,663t and 108,301t respectively, down -58% and -25%.
Also, notably, supply from the UK plummeted -69% in February to 93,983t. However, intake from Israel more than doubled to 32,808t and Libya supplied 31,712t versus zero a year earlier.
In January-February overall Turkish scrap imports thus fell -38% on-year to 2.18 million tonnes, with the US, Netherlands and Russia being the top three suppliers in that order.
Turkish rebar exports, meanwhile, declined -22% on-year in February to 362,658t, their lowest monthly tonnage since June 2018 (see separate article).
