By Paul Ploumis 16 Jul 2015 Last updated at 02:27:39 GMT

ANKARA (Scrap Monster): According to the latest data released by the Turkish Statistical Institute (TUIK), the total scrap imports by Turkey during the month of May this year rose sharply by nearly 46.5% from the previous month.

The country’s scrap imports during May ‘15 totaled 1.70 million metric tons, when matched with 1.17 million metric tons during April this year. The imports during May ’15 were down by 7.4% when compared with those during May last year.

The value of scrap imports during the month of May this year totaled $459.88 million, significantly higher by 52.3% month-on-month. The Turkish scrap imports during the previous month had valued at $301.96 million. However, the value of imports has dropped by nearly 33% when compared with the same month a year ago.

The cumulative scrap imports by Turkey during the five-month period from January to May this year totaled 7.01 million mt, down 12.2% when compared the corresponding five-month period in 2014. The Turkish scrap imports during January to May last year had totaled 7.98 million mt.

The value of scrap imports during Jan-May ’15 totaled $2.06 billion, significantly down by 32% year-on-year. The Turkish scrap imports during the corresponding five-month period in 2014 had valued at $3.03 billion.