In July, Turkey's interest in scrap import remained strong, which helped to consolidate the overall performance in the first seven months of 2021 with the increase of steel consumption in the country. Although Turkey's demand for raw materials is generally strong, the status of some major suppliers, especially the United States, has weakened significantly since the end of the month and the beginning of the year. At the same time, European scrap recyclers, which traditionally provide most materials, have expanded their cooperation with Turkish factories because of their flexibility.
According to the Turkish Bureau of Statistics (tuik), local factories received about 2.4 million tons scrap from foreign countries in July, a year-on-year increase of 1.8%. This mild extreme trend is due to limited trading activity in the steel industry during the reporting period. A source told : the market is cold this month, so we now see a decrease in raw material imports from major regions such as the United States“ Among them, the shipment volume of the United States decreased by 68.6% year-on-year to about 180,000.
In July, most (56%) of the scrap steel came from the EU. However, the situation in Europe varies from country to country, with the Netherlands taking the lead (about 3.73 million, a year-on-year increase of 67%). Regional suppliers of the Baltic basin, such as Denmark and Lithuania, increased their output significantly during the reporting period due to attractive prices. At the same time, Romania, as an important supplier of small raw materials, has narrowed its cooperation with Turkey“ The number of transactions was limited because Romanian suppliers were reluctant to accept lower offers from potential buyers, respondents said.
However, the output in July did not increase much, but it was enough to maintain the extreme trend of the total in July 2021. According to the data of the Turkish Bureau of statistics, in July, Turkey's scrap import increased by 265% year-on-year to 15.3 million tons. EU countries provided 55% of the total, and cooperation with Turkish factories expanded by 37% to 8.5 million.The Netherlands took the lead again. Compared with 1.6 million in July 2020, the output increased by 29.1% to about 2.1 million tons. Venezuela's export volume grew the most astonishing, with an increase of 830% to 437,335 tons.
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Post time: Sep-03-2021