Turkey: Ferrous Scrap Imports Shrink 13% in Nov'17
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After recording years' highest monthly ferrous scrap imports in October month, Turkey witnessed decline in scrap imports in Nov'17 over increased scrap import prices and the slowdown in activities amid winters.
Turkey-world's largest importer of scrap has witnessed fall in its ferrous scrap imports in Nov'17. As per recent customs data, Turkey imported 1.87 MnT ferrous scrap in Nov'17, the imports shrank by 13% M-o-M as against 2.14 MnT in Oct'17. Notably, scrap imports in Oct'17 had reached highest since previous four years.
On yearly premises, Turkey witnessed marginal fall in its ferrous scrap imports by 2% Y-o-Y in Nov'17 as the country had imported 1.90 MnT ferrous scrap in Nov'16.
Fall in the scrap imports could be attributed to the slowdown in market activities in Turkey amid winters and rise in average scrap import prices in Nov'17.Imported ferrous scrap HMS 1&2 (80:20) offers to Turkey from USA hiked by USD 6-8/MT M-o-M in Nov'17.
The monthly average prices stood at USD 313/MT, CFR in Nov'17 against USD 307/MT, CFR Turkey in Oct'17. In Sept'17, the monthly average prices were assessed at USD 337/MT, CFR Turkey.
Turkey ferrous scrap imports up 18% Y-o-Y Jan-Nov'17 - During first eleven months of CY17, Turkey has imported 18.91 MnT of ferrous scrap, up 18% Y-o-Y against 16.03 MnT ferrous scrap imports during the same period of CY16 (Jan-Nov'16).
Turkey scrap imports rise with increased EAF steel output - According to the data released by World Steel Association, crude steel production in Turkey stood at 34.16 MnT during Jan-Nov'17 compared to 30.32 MnT in the same time frame of last year, which was up by 13% Y-o-Y. Increased scrap consumption by Turkey-based EAF firms has resulted in increased crude steel production.
United States continue to remain preferred source for ferrous scrap to Turkey -
United States supplied highest 0.38 MnT ferrous scrap in Nov'17 followed by other prominent exporters like United Kingdom (0.30 MnT), Netherland (0.23 MnT), Russia (0.17 MnT) and Belgium (0.15 MnT) in Nov'17.United States ferrous scrap exports to Turkey fell by 31% M-o-M in Nov'17 compared with 0.55 MnT imports of the previous month.
During first eleven months of CY17 (Jan-Nov'17), United States exported highest 3.33 MnT occupying 18% share in total Turkey ferrous scrap imports.
United Kingdom stood as the second highest exporter with 2.76 MnT ferrous scrap exports following which other major exporters were Netherland (2.45 MnT), Russia (2.16 MnT) and Belgium (1.94 MnT) during Jan-Nov'17 to Turkey.
Country-wise ferrous scrap imports to Turkey -
| Country | Nov'17 | Oct'17 | M-o-M % Change | Nov'16 | Y-o-Y % Change | Jan-Nov'17 | Jan-Nov'16 | % Change |
| United States | 0.38 | 0.55 | -30.91% | 0.41 | -7.32% | 3.33 | 3.10 | +7.42% |
| United Kingdom | 0.30 | 0.21 | +42.86% | 0.23 | +30.43% | 2.76 | 2.27 | +21.59% |
| Netherland | 0.23 | 0.32 | -28.13% | 0.25 | -8.00% | 2.45 | 2.15 | +13.95% |
| Russia | 0.17 | 0.30 | -43.33% | 0.17 | 0.00% | 2.16 | 2.44 | -11.48% |
| Belgium | 0.15 | 0.08 | +87.50% | 0.25 | -40.00% | 1.94 | 1.77 | +9.60% |
| Others | 0.64 | 0.68 | -5.88% | 0.59 | +8.47% | 6.27 | 4.30 | +45.81% |
| Total | 1.87 | 2.14 | -12.62% | 1.90 | -1.58% | 18.91 | 16.03 | +17.97% |
Quantity In MnT,
Source: SteelMint Stats
