Turkey’s scrap import prices remained stable this week as buyers evaluated the market in light of cheaper billet offers from China. Scrap prices were assessed at USD 370 per ton CFR, unchanged from the previous week.
Last week, Turkish steel mills increased their scrap purchases to replenish stocks, but this week saw Chinese billet bookings at around USD 465 per ton CFR, which could put downward pressure on scrap prices in the near future. However, scrap sellers are holding out for higher deal prices in the next round, contributing to a slowdown in buying activity.
Turkish long steel export offers also remained unchanged, with rebar export prices at USD 575-585 per ton FOB and wire rod export prices at USD 590-600 per ton FOB.
