Turkey’s scrap import prices increased further this week as steel mills booked new cargoes at higher rates. Scrap import prices in Turkey are now assessed at USD 390 per ton CFR, up from USD 385-390 per ton CFR last week.
The price rise is attributed to steel mills needing to replenish stock and lower scrap collection. However, there is limited upside for scrap prices as Turkish finished steel demand remains weak in both domestic and international markets.
Despite higher scrap costs, Turkish steel exporters are unable to raise their offers due to weak sales. Rebar export offers remain between USD 580-590 per ton FOB, while wire rod export offers are around USD 595-605 per ton FOB, unchanged from last week’s prices.
