Turkey's scrap metals imports up by 6.8 MMT in 2024

 

Scrap metals are the prominent imports of Turkey. Turkey's scrap metals imports surge during fiscal year 2024. According to Turkey import export data, the scrap metals imports of Turkey went up by 2.5% and are estimated to be 6.8 million tons. On a year on year basis, Turkish scrap metals imports are growing at the rate of 7%.

In the Q1, Turkey's scrap metals imports were recorded to be $2.9 billion. In the April month, Turkey imported nearly 1.5 million tons of scrap metals. During this period, Turkey's most favourable markets for scrap metals imports were the United States, Netherlands, Belgium and the United Kingdom.

The United States, which is the world's leading exporter of scrap metals, was the biggest supplier to Turkey. This year, the USA has exported around 1.3 million tons of scrap metals with 9% yearly growth. Aveks, Arcelormittals Exports, Habas International and Randell Business were the top scrap metal import companies from Turkey with higher shipment volumes last year. 

Turkey import data shows ferrous scrap metals imports of the country were record $7.6 billion in the fiscal year 2023. The United States was the leading supplier of ferrous scrap to Turkey with around $1.8 billion scrap metals imports along with 24% market share. The Netherlands, Belgium, United Kingdom and Denmark were the leading markets for Turkey's iron scrap imports.

In terms of aluminium scrap metals, Turkey imported around $338 million worth of these goods. For the imports of aluminium scrap metals, Turkey’s most favourable markets were Libya (11%), Netherlands (8.9%) and Romania (7.6%). Jansen Recycling Group, Ragmet Raffineria and BKC Consulting were some of the leading companies supplying scrap aluminium to Turkey.

On the other hand, Turkey’s copper scrap imports were $300 million in the fiscal year 2023. There was a 23% decline in the scrap copper imports of Turkey. According to Turkey customs data, Libya was the leading importer of copper scrap with imports worth $117 million in 2023. Iran, Iraq, Bulgaria and Georgia were among the leading markets for Turkey's copper scrap imports last year.

However, the overall Turkey scrap metals data report shows  the reduction in the scrap imports of Turkey by 18.8 million tons compared to the previous year. The main cause of declining scrap metals imports of Turkey was less utilization by the local steel mills. On the other hand, Turkey’s steel exports during FY 2024 shows impressive growth of 48% to 4 million tons. There was huge demand for Turkey’s flat rolled steel products which accounted for nearly 84% of the steel exports. Production wise, Turkey is the world’s 8th leading producer of steel globally. 

Turkey export data suggests the United Kingdom (45% market share) as the leading market for Turkey's steel exports along with France (12%), Panama (9%), Switzerland (8%) and the United States. Arbak Kimya San, Vardarci and TUSAS Engine Industries are some of the prominent steel exporting companies from Turkey. Keeping Turkey’s steel making capacity in mind, Turkey’s steel production might further boom this year. 

Turkish companies which are involved in the scrap metals sector can generate more sales through the intelligence of global import export data provider. These reports will help Turkish companies to find top trending products, price, top supplying companies, markets, and potential importers from the international market. It is the most cost effective market research tool through which companies calculate import export duties, evaluate production quantity and discover economical suppliers.