Published on October 3, 2024
Turkey experienced a significant rise in scrap metal imports during the first eight months of this year. In August alone, the country imported 1.97 million metric tons of scrap, marking a substantial increase of 30.9 percent compared to last year and a 23.1 percent rise from the previous month. The financial value of these imports also saw a notable uptick, reaching $806.87 million, representing a 22.9 percent increase month-over-month and a 36.7 percent increase year-over-year.
From January to August, Turkey’s total scrap imports amounted to 13.52 million metric tons, reflecting a 4.0 percent growth compared to last year. The value of these imports rose by 5.9 percent, totaling $5.71 billion. Despite this overall growth, the United States, Turkey’s largest scrap supplier, sent 2.94 million metric tons of scrap to Turkey during this period, a slight decrease of 0.3 percent from the previous year.
This data highlights Turkey’s growing demand for scrap metal, driven by its robust steel production industry. The increase in the volume and value of scrap imports underscores the country’s strategic importance in the global scrap metal market. As Turkey continues to expand its industrial capabilities, the trends in scrap imports will be a key indicator of its economic health and industrial growth.
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