Price for Ferrous Waste and Scrap; of Stainless Steel in Turkey - 2024

Price for Ferrous Waste and Scrap; of Stainless Steel in Turkey (FOB) - 2024

In January 2024, the average export price for ferrous waste and scrap; of stainless steels amounted to $1,334 per ton, surging by 7.2% against the previous month. Over the period under review, the export price, however, continues to indicate a noticeable descent. The pace of growth was the most pronounced in March 2023 when the average export price increased by 10% month-to-month. The export price peaked at $1,757 per ton in January 2023; however, from February 2023 to January 2024, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In January 2024, the country with the highest price was Belgium ($1,465 per ton), while the average price for exports to India ($844 per ton) was amongst the lowest.

From January 2023 to January 2024, the most notable rate of growth in terms of prices was recorded for supplies to Finland (0.0%), while the prices for the other major destinations experienced a decline.

Price for Ferrous Waste and Scrap; of Stainless Steel in Turkey (CIF) - 2024

The average import price for ferrous waste and scrap; of stainless steels stood at $1,128 per ton in January 2024, approximately reflecting the previous month. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in May 2023 when the average import price increased by 23% month-to-month. As a result, import price attained the peak level of $1,899 per ton. From June 2023 to January 2024, the average import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was Greece ($1,380 per ton), while the price for Romania ($654 per ton) was amongst the lowest.

From January 2023 to January 2024, the most notable rate of growth in terms of prices was attained by Greece (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Ferrous Waste and Scrap; of Stainless Steel in Turkey

In 2022, overseas shipments of ferrous waste and scrap; of stainless steels decreased by -17.4% to 147K tons for the first time since 2018, thus ending a three-year rising trend. The total export volume increased at an average annual rate of +3.1% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when exports increased by 18% against the previous year. As a result, the exports reached the peak of 179K tons, and then contracted sharply in the following year.

In value terms, exports of ferrous waste and scrap; of stainless steels reduced to $272M in 2022. In general, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 76%. As a result, the exports reached the peak of $292M, and then dropped in the following year.

Export of Ferrous Waste and Scrap; of Stainless Steel in Turkey (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Spain	39.0	46.3	104	85.7	30.0%
Netherlands	31.6	24.3	59.5	68.4	29.4%
India	50.0	61.4	90.1	57.7	4.9%
Finland	N/A	N/A	N/A	19.6	0%
Belgium	2.1	5.3	6.5	11.9	78.3%
Taiwan (Chinese)	N/A	N/A	N/A	6.7	0%
Germany	0.9	0.9	4.8	6.4	92.3%
Ukraine	19.6	12.7	24.2	1.1	-61.7%
Others	4.1	14.6	2.7	14.6	52.7%
Total	147	166	292	272	22.8%

Top Export Markets for Ferrous Waste and Scrap; of Stainless Steel from Turkey in 2022:

India (42.3K tons)
Spain (41.4K tons)
Netherlands (32.2K tons)
Finland (9.9K tons)
Belgium (7.5K tons)
Taiwan (Chinese) (4.5K tons)
Germany (3.0K tons)
Ukraine (0.5K tons)

Imports of Ferrous Waste and Scrap; of Stainless Steel in Turkey

After three years of growth, purchases abroad of ferrous waste and scrap; of stainless steels decreased by -67.9% to 215K tons in 2022. Over the period under review, imports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 1,643%.

In value terms, imports of ferrous waste and scrap; of stainless steels declined dramatically to $125M in 2022. Overall, imports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 1,048% against the previous year.

Import of Ferrous Waste and Scrap; of Stainless Steel in Turkey (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Libya	0.4	5.9	28.2	56.8	421.7%
Russia	0.6	17.0	41.6	20.3	223.4%
United Kingdom	1.2	9.0	12.0	14.2	127.9%
Bulgaria	N/A	12.7	22.6	10.8	-7.8%
Croatia	N/A	8.9	26.8	7.6	-7.6%
Romania	2.4	22.7	67.9	5.2	29.4%
Montenegro	N/A	0.1	1.5	3.3	474.5%
Ukraine	N/A	N/A	36.7	1.3	-96.5%
Italy	N/A	4.7	7.8	N/A	66.0%
Others	2.9	6.2	37.6	5.8	26.0%
Total	7.6	87.3	283	125	154.3%