Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Turkey - 2023

Contents:

1. Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Turkey (CIF) - 2023
2. Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Turkey (FOB) - 2023
3. Imports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Turkey
4. Exports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Turkey

Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Turkey (CIF) - 2023

In July 2023, the average import price for ferrous waste and scrap; remelting scrap ingots of iron or steels amounted to $397 per ton, which is down by -6.2% against the previous month. Over the period from December 2022 to July 2023, it increased at an average monthly rate of +1.1%. The pace of growth was the most pronounced in March 2023 when the average import price increased by 7% m-o-m. Over the period under review, average import prices hit record highs at $451 per ton in May 2023; however, from June 2023 to July 2023, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In July 2023, the countries with the highest prices were Venezuela ($429 per ton) and Germany ($406 per ton), while the price for Israel ($354 per ton) and Romania ($366 per ton) were amongst the lowest.

From December 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Venezuela (+1.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Turkey (FOB) - 2023

In July 2023, the average export price for ferrous waste and scrap; remelting scrap ingots of iron or steels amounted to $1,273 per ton, shrinking by -2.9% against the previous month. Over the period under review, the export price saw a noticeable contraction. The pace of growth appeared the most rapid in January 2023 an increase of 13% m-o-m. As a result, the export price reached the peak level of $1,700 per ton. From February 2023 to July 2023, the the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In July 2023, the country with the highest price was China ($1,407 per ton), while the average price for exports to Spain ($644 per ton) was amongst the lowest.

From December 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+4.3%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Turkey

In 2022, purchases abroad of ferrous waste and scrap; remelting scrap ingots of iron or steels decreased by -17.9% to 21M tons for the first time since 2018, thus ending a three-year rising trend. The total import volume increased at an average annual rate of +2.9% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 19%.

In value terms, imports of ferrous waste and scrap; remelting scrap ingots of iron or steels dropped to $9.7B in 2022. In general, imports, however, recorded a significant expansion. The growth pace was the most rapid in 2021 when imports increased by 78% against the previous year. As a result, imports attained the peak of $11.1B, and then shrank in the following year.

Top Suppliers of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel to Turkey in 2022:

1. United States (4.0M tons)
2. Netherlands (2.2M tons)
3. United Kingdom (1.8M tons)
4. Belgium (1.5M tons)
5. Romania (1.1M tons)
6. Lithuania (1.1M tons)
7. Denmark (1.0M tons)
8. Venezuela (1.0M tons)
9. France (0.7M tons)
10. Germany (0.6M tons)
11. Croatia (0.6M tons)
12. Libya (0.5M tons)
13. Russia (0.4M tons)

Exports of Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel in Turkey

In 2022, after three years of growth, there was significant decline in shipments abroad of ferrous waste and scrap; remelting scrap ingots of iron or steels, when their volume decreased by -12% to 170K tons. The total export volume increased at an average annual rate of +3.9% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 14%. As a result, the exports reached the peak of 193K tons, and then dropped in the following year.

In value terms, exports of ferrous waste and scrap; remelting scrap ingots of iron or steels reduced slightly to $295M in 2022. Overall, exports, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2021 with an increase of 71% against the previous year. As a result, the exports attained the peak of $309M, and then shrank in the following year.

Top Export Markets for Ferrous Waste and Scrap; Remelting Scrap Ingots of Iron or Steel from Turkey in 2022:

1. India (43.6K tons)
2. Spain (41.4K tons)
3. Netherlands (33.4K tons)
4. Finland (9.9K tons)
5. Germany (9.4K tons)
6. China (8.2K tons)
7. Belgium (7.7K tons)
8. Taiwan (Chinese) (4.7K tons)
9. Ukraine (0.5K tons)