Turkey’s scrap import prices fell this week due to weakening demand for Turkish finished steel. Scrap import prices are now assessed at USD 365-370 per ton CFR, down from USD 385-390 per ton CFR last week.
Last week’s price increase was driven by strong domestic steel demand and rising Chinese steel prices, which boosted market sentiment. However, this week saw a drop in domestic rebar demand, while export sales remain sluggish.
In response, Turkish long steel export offers have decreased by USD 5 per ton over the past week. Turkish rebar export offers are now in the range of USD 615-625 per ton FOB, while wire rod export offers are around USD 630-640 per ton FOB.
