Turkiye's ferrous scrap imports slump 20% MoM in May

After the large increase seen in April, Trkiye's imports of ferrous scrap in May dropped by a significant 20.2% on month to 1.5 million tonnes, with the volume being 7% lower compared with the same month last year, according to the latest data released by the Turkish Statistical Institute (TUIK).

Over January-May, the country's ferrous scrap imports totaled 8.1 million tonnes, down 1.1% on year, the TUIK data showed. The decline in scrap imports mainly reflected weaker demand for raw materials among Turkish steelmakers, as persistently weak steel consumption among end-users had curbed the mills' enthusiasm for producing, Mysteel Global