In January-September, scrap supplies increased by 6.3% y/yIn September 2024, Turkish steel enterprises reduced imports of steel scrap by 26.8% compared to the previous month – to 1.44 million tons. In September, the key suppliers of raw materials were the United States – 474.38 thousand tons (+58.1% y/y), the Netherlands – 217.4 thousand tons (+84.8%), the United Kingdom – 152.67 thousand tons (+62.2%), Belgium – 79.42 thousand tons, and Venezuela – 66.13 thousand tons (+215%). Over 9 months, the US shipped 3.41 million tons of raw materials to Turkey (+5.1% yoy), the Netherlands – 2.03 million tons (+33.9%), and the UK – 1.61 million tons (+44.5%). As GMK Center reported earlier, in 2023, Turkey reduced scrap imports by 10% compared to 2022, to 18.83 million tons. The decrease in scrap imports to the country was due to low utilization of local steel mills.

Source: Economic Times November 06, 2024 00:14 UTC