Turkey: Aug scrap imports fall 20% after Jul's high record
Oct 15, 2020 11:00
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Turkey - the world’s largest ferrous scrap importer, witnessed a 20% drop in Aug'20. The country imported 1.89 mn t in Aug'20 as compared to 2.35 mn t a month ago, according to customs data maintained with SteelMint. Notably, Turkish ferrous scrap imports hit record high of 2.35 mn t in Jul'20 as mills actively restocked cargoes in July.
Similarly, on a yearly basis, scrap imports to Turkey recorded 1.89 mn t in Aug'20 as against 1.48 mn t in Aug'19.
Scrap buying turned slow after replenishing of stocks last month -Reopening means utilization rates have been picking up from bottom levels. June buying surpassed the levels for a normal