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Turkey, the world’s top buyer of ferrous scrap, recorded imports of this material of 24.37 million tons (mnt) in 2021 (Jan-Dec 2021), up 10% from 22.16 mnt in 2020.
On a monthly basis, Turkish ferrous scrap imports increased by 22% to 2.49 mnt in Dec 2021 compared to 2.04 mnt in Nov 2021. Notably, the import volume rose to the highest level in December 2021 compared to the other 11 months of the year.
Analyzing Turkey’s scrap imports in detail on a yearly basis, the United States secured the top position among Turkey’s suppliers with 3.77 million tons, followed by the Netherlands and the United Kingdom with 3.21 million tons and 2.33 million tons, respectively.
Turkey’s crude steel production increased by 13% year-on-year to 40 tons in 2021, according to data released by Worldsteel. The increase in crude steel production has led to an increase in scrap consumption.
Demand for imported ferrous scrap in the Turkish market rebounded in 2021 as steel mills continued to book cargoes throughout the year, with buying interest increasing slightly.
Demand for billet and long steel products has improved in the Turkish market. Market participants believe that strong billet demand has kept scrap bookings active.
U.S. and Netherlands emerge as major exporters: The United States was the top exporter of ferrous scrap to Turkey with 3.77 million tons in January-December ’21. The Netherlands was the second largest exporter with 3.21 million tons, followed by the United Kingdom with 2.33 million tons.
In addition, freight rates from the U.S. coast to Turkey have dropped, which has eased scrap export prices, increasing buyer interest.
According to the Turkish Association of Automotive Manufacturers (OSD), total car production in 2021 stood at 1,276,140 units, while total exports were 937,005 units, up 2% from 916,538 units in 2020.
Turkish steel mills may close for maintenance or opt for reduced production during the winter. Thus, a quiet market is expected for February 2022 shipment bookings.
