Turkish scrap imports slumped -21% on-year in May to 1.65 million tonnes, according to Turkish Statistical Institute (TUIK) data monitored by Kallanish. Their average value was $365.5/tonne versus $281/t in the year-earlier month.
Almost 99%, or 1.64mt, of the May imports were obsolete scrap. The top provider of this scrap was the US, despite a -39% fall in supply to 232,198t. Russia came next with a 37% surge in supply to 231,924t, followed by the Netherlands with a -29% decline to 229,510t. Supply from the UK and Belgium also fell significantly, to 172,757t and 133,615t respectively, but intake from Canada more than doubled to 115,745t.
In January-May Turkish scrap imports thus rose 11% on-year to 8.94mt, with obsolete scrap accounting for 8.84mt. The top obsolete scrap suppliers were the US, UK and Russia. Intake from the US surged 24% to 1.67mt, sourcing from the UK rose 15% to 1.27mt, while imports from Russia soared 58% to 1.03mt. Intake from the Netherlands, however, fell -17% to 956,130t.
Turkish rebar exports mirrored the scrap import drop in May, falling -20% on-year to 348,270t due to less demand from Asia and the US (see Kallanish 2 July). However, unlike scrap, rebar exports also dropped in the five months, by -14% to 2.31mt, suggesting domestic steel consumption growth.