Published on 02 July 2024
Overview
Turkey, a significant player in the global steel industry, has seen notable developments in its scrap imports and steel production. Let’s delve into the key highlights from January to May 2024.
Scrap Imports Surge
- Scrap Imports: Between January and May 2024, Turkey’s scrap imports surged to 8.66 million tons, reflecting a 2.8% increase compared to the same period in 2023.
- May 2024: In May alone, Turkey imported 1.81 million tons of scrap, marking a substantial 19.1% month-on-month (m/m) growth and a 4.5% increase from May 2023.
Leading Suppliers
- United States: Despite an 18.7% year-on-year (y/y) decline, the United States remained a significant supplier of raw materials to Turkey.
- United Kingdom: The UK witnessed an impressive 222% y/y growth in scrap exports to Turkey.
- Netherlands: Scrap imports from the Netherlands also soared, with an 85.4% y/y increase.
Rebar Exports
- Rebar Exports: Turkey’s rebar exports experienced a robust 25.4% yearly growth during the first five months of 2024, reaching 1.34 million tons.
Steel Production Rankings
- Eighth Globally: Turkey ranks eighth in the world in terms of steel production.
- 2023 Production: In 2023, Turkish steelmakers reduced steel production by 14% compared to 2022, producing 33.7 million tons.
Conclusion
Turkey’s steel industry continues to evolve, driven by scrap imports, rebar exports, and adjustments in steel production. As global demand fluctuates, Turkey remains a key player in shaping the industry’s landscape.
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