Ferrous scrap: Turkey buys more, pays less in 2016

Turkey – Turkey purchased more ferrous scrap last year but at a significantly lower cost, according to the country’s statistical institute TUIK. Volumes acquired from abroad by the world’€™s leading importer increased by 9% from 16.25 million tonnes in 2015 to 17.72 million tonnes whereas the price tag attached to those imports fell more than 7% from US$ 4.3 billion to a shade under US$ 4 billion.

Turkey’s leading source of imported ferrous scrap last year was the USA with 3.26 million tonnes although this figure was more than 15% short of the 3.84 million tonnes of 2015, according to TUIK. The UK came next on 2.61 million tonnes (+6.1% year on year) and Russia was third with 2.53 million tonnes (+4.6%).

Meanwhile, scrap-rich electric arc furnace production in Turkey jumped around 6.8% last year to 21.87 million tonnes, notes the Turkish steel producers’ association TÇÜD. Total crude steel output in Turkey also made a strong start to 2017 with a 12.8% surge in January to 2.93 million tonnes from 2.6 million tonnes in the opening month of 2016.