Turkish Ferrous Scrap Imports from U.S.
Turkey is one of the significant importers of U.S. steel scrap with its annual consumption of 16.2 million tons. At the same time, U.S. is one of the largest exporters of scrap and most of the countries, including Turkey use American scrap classification criteria. The market for iron and steel scrap in Turkey is $4.2 billion in 2015. HMS-I and HMS-II imports dominate the import market. Turkish scrap imported 16.2 million tons of steel scrap in 2015, and the majority came from the United States, Russia and UK, with the U.S. ranking first. Of the scrap imports into Turkey totaling 16.2 billion tons, and $4.3 in 2015, ferrous scrap (HS 720449) has the largest share with 99%, according to the U.S. Department of Commerce.
The Turkish ferrous scrap imports totaled 17.72 million tonnes in 2016. This is significantly higher by nearly 9% when matched with the year before that. According to data published by the Turkish Statistical Institute(TUIK), the country’s ferrous scrap purchases surged higher during the entire calendar year 2016. The purchase price of ferrous scrap during the year declined considerably during the year. The country continued to remain as the world’s leading scrap importer, TUIK data said.
The largest exporter of scrap to Turkey in 2016 was the US. The scrap metal imports from the US to Turkey totaled 3.26 million tonnes, accounting for just over 18% of the total imports by Turkey during the month. The imports from the country declined considerably by more than 15% when compared with the 2015 imports. USA’s scrap exports to Turkey had totaled 3.84 million tonnes in 2015. The second largest exporter of scrap to Turkey was the UK.
Turkey’s large and growing domestic market makes Turkey a particularly attractive destination for U.S. exporters and investors. We at Mylo Trade support long-term business partnerships between U.S. and Turkish firms. We’re also here to connect Turkish scrap metal importers with the best U.S. scrap metal exporters. To learn more about how to grow your U.S. export scrap metal business in Turkey, send us an email.