【SMM Steel】Glencore enters EU-Turkey deep-sea ferrous scrap trade, structurally reshaping EAF raw material supply chains

Published: May 15, 2026 16:39

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【SMM Steel】Mining and trading giant Glencore is offering a deep-sea ferrous scrap cargo from the EU for June shipment to Turkey via a Baltic-based exporter. The Baltic exporter entered the Turkish market in 2023 but had previously focused on smaller Mediterranean cargoes of 8,000-10,000 tonnes, as Turkish shipments of ~20,000 tonnes require stronger financing and freight management. Glencore has also signed an agreement with Polish transshipment specialist Lebal at Gdansk Port to strengthen export logistics. Turkey imports 18-20 million tonnes of scrap annually as the world's largest ferrous scrap importer. With CBAM implementation and global decarbonisation accelerating, scrap is being repositioned from a secondary by-product into a strategic core metallics input.

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