In the first two months of this year, Turkey's scrap imports moved upwards, after decreasing 12 percent in 2013 compared to 2012, according to the report released by the Turkish Iron and Steel Producers' Association (TCUD). In the given period, Turkey's scrap imports increased by 6.7 percent to 2.98 million mt, valued at $1.17 billion, up 5.8 percent, both on year-on-year basis.

In the first two months of the current year, Turkey's scrap imports from European countries increased by 9.3 percent year on year to 1.58 million mt, including 427,000 mt from Russia, 299.000 mt from the UK, 264,000 mt from the Netherlands and 219,000 mt from Belgium. In the given period, Turkey's scrap imports from the US contracted by 25.8 percent to 667,000 mt, while imports from CIS countries surged by 152.6 percent to 507,000 mt, both on year-on-year basis.

In line with the increase in scrap imports, in the first two months of this year Turkey's domestic scrap supply volume decreased by 13.1 percent to 1.70 million mt, while scrap consumption amounted to 4.68 million mt, down 1.5 percent, both on year on year basis. In the given period, in Turkey scrap consumption by electric arc furnaces, which produced 3.77 million mt of steel, totaled 4.29 million mt, and scrap usage by blast furnaces, which produced 1.73 million mt of steel, amounted to 387,00 mt.

According to the report, in the first two months of this year Turkey's iron ore imports increased by 46.9 percent to 1.42 million mt, valued at $207 million, up 65.3 percent, both on year-on-year basis.