Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Ferrous scrap imports in Turkey increased by 18pc in January compared to the same month last year according to the country’s Customs data.


Turkey imported around 2mn mt of ferrous scrap last month compared to 1.69mn mt in January 2019, the data indicated. However, scrap imports declined by 14pc from 2.33mn mt in December 2020.


Exports to Turkey from the UK and Russia increased significantly on an annual basis in January, though shipments from the US, a key exports destination to Turkey declined by 38pc to 194,927mt in January from 315,443mt during the same month last year. 


The UK was the largest exporter to Turkey in January with shipments totaling 382,990mt up by 313pc from 92,740mt in January 2020, and by 94pc from 197,179mt in December 2020. Russia was the second-largest exporter with shipments increasing by 101pc to 245,998mt in January from 122,415mt in the same month last year and by 23pc from 199,995mt in December 2020. 


The Netherlands rounded off the top three exporters to Turkey in January though shipments from this outlet fell by 11pc to 214,110mt last month from 241,803mt in January 2020 and were down 47pc from 402,312mt in December 2020.


Robust foreign trade 

Foreign trade in Turkey was mixed last month, with exports increasing by 2.3pc and imports dropping by 5.9pc, according to the Turkish Statistical Institute (TUIK) and the Ministry of Trade.


In January, TUIK pegged exports at $15.05bn up from 14.72bn in the same month last year and imports at $18.79bn down from $19.21bn during the same timeframe. TUIK estimated the share of exports by Turkish manufacturing industries at 93.8pc or $13.82bn of the country’s total exports value.

Leave a Reply

Your email address will not be published.