Turkey: Ferrous Scrap Imports Up by 42% M-o-M in Nov'19

Turkey, world's largest ferrous scrap importer, has observed a sharp increase in Nov'19 after dropping to eight months low in Oct'19. The imports rose by 42% M-o-M in Nov'19 and was recorded at 1.63 MnT in comparison to 1.14 MnT imported in Oct'19.

On a yearly premise too, the scrap imports increased by 8% as it imported 1.51 MnT during the same period a year ago, Nov'18.

Netherlands remained the largest exporter to Turkey, supplying 0.36 MnT scrap in Nov'19 with a 22% share in total scrap imported by Turkey, increasing sharply by 157% M-o-M, as against 0.14 MnT exported in Oct'19. The United States stood in a second position with18% share, exporting 0.30 MnT scrap in Nov '19, down by 19% M-o-M. Another major supplier, the United Kingdom increased its exports by 110% to 0.21 MnT in Nov'19 with a 13% share of total scrap imported by Turkey.

Turkey also increased its coal and finish long imports in Nov'19. Whereas, iron ore, semi-finished & finish flat imports decreased in the month.

Iron Ore: Turkey iron ore imports in Nov'19 witnessed at 0.47 MnT, down 36% against 0.74 MnT in Oct'19. On a yearly basis too, imports dropped against 0.74 MnT in Nov'18. Turkey imports from Brazil marked highest for the month at 0.34 MnT. However, it dropped by 23% as against 0.44 MnT as a month ago.

Imports from Brazil dropped amid material availability crises. The largest iron ore miner- Vale on 11th Nov reduced iron ore and pellet sales guidance to 307-312 MnT for 2019 amid dealing with the aftermath of the Brumadinho dam disaster of Jan'19. Imports from India rebounded to 0.06 MnT as against nil a month ago. Turkey imports from Ukraine marked at 0.05 MnT followed by Russia at 0.03 MnT.

Coal: Turkey's coal imports have increased by 11% on the month to 4.59 MnT in Nov'19, thereby attaining its highest monthly total for CY19. The country had imported 4.14 MnT coal in Oct'19. Incidentally, Turkey had also managed to record its highest Y-o-Y growth for the CY19, as imports in Nov'19 were marked 23% higher on the year from 3.74 MnT in Nov'18.

Coal imports by the country have been increasing since the drastic fall seen in Jul'19, which was underpinned by a progressive rise in coal receipt noted from its major supplier-Colombia, in the second half of CY19. However, total imports registered in the first 11 months of CY19 (Jan-Nov'19) have fallen 7% Y-o-Y to 37.57 MnT as against 40.4 MnT noted in the year-ago period.

Coal supplies from Colombia, increased 18% on the month to 2.18 MnT in Nov'19. Apparently, coal volumes had touched the 2 MnT mark for the first time in 15 months. Russian coal exports to Turkey decreased 3% M-o-M to 1.54 MnT in Nov'19 but were seen 83% higher Y-o-Y from the levels attained in the year-ago month.

Semi Finished: Semi-finished steel imports to Turkey fell by 16% on a monthly basis in Nov'19 at 0.26 MnT in as compared to 0.3 MnT imported in Oct'19. On a yearly basis too, imports sharply decreased by 34% Y-o-Y from 0.39 MnT imported during the same period in Nov'18.

Russia remained leading supplier with 69% share of total semi-finished steel imported by Turkey as it exported 0.18 MnT in Nov'19, up by 6% on a monthly basis as against 0.17 MnT exported in Oct'19. Another prominent exporter was Ukraine, which exported 0.05 MnT in Nov'19, increasing by 25% M-o-M with a 19% share.

Finish Long: The country's Finish long imports observed a significant increase by 50% M-o-M in Nov'19 at 0.06 MnT imported. On a yearly basis, imports have slightly increased by 20% from 0.05 MnT during the same period a year ago. Spain exported the largest quantity of finish long products in Nov'19 at 0.03 MnT with a 50% share in total finish long imported by Turkey.

Finish Flat: On a monthly premise, Turkey's Flat steel imports inched down slightly by 5% M-o-M in Nov'19 at 0.6 MnT as against 0.63 MnT Imported in Oct'19. On a yearly basis, finish flat imports have increased sharply by 50% Y-o-Y from 0.04 MnT imported a year ago in Nov'18.

Further, imports from Russia supplied the same quantity at 0.18 MnT in Oct & Nov'19 each, while France slightly increased its finish flat exports to 0.09 MnT in Nov'19, with a 15% share. Ukraine & Germany supplied the same quantity at 0.04 MnT each in Nov'19.

According to the World Steel Association data, Turkish crude steel output was observed to increase by 7% to 2.88 MnT in Nov'19 as compared to 2.69 MnT registered in Oct'19.

Quantity in MT
Source: Customs Data & SteelMint Stats