Turkey’s scrap import market remained under pressure this week as Turkish steel mills continued to curb buying amid weak finished steel demand, while suppliers held firm on prices due to tight availability and higher freight costs. Turkey’s scrap import prices were assessed unchanged at USD 370-375 per ton CFR.
Turkish mills are reluctant to accept higher scrap prices, pointing to weak finished steel prices and ongoing cost pressures.
Kardemir sold notable volumes of billet and rebar during the week, but at lower prices, reinforcing mills’ pushback against higher scrap offers despite sellers’ firm stance.
With Ramadan underway, market participants expect a further slowdown in finished steel activity, keeping the near-term outlook bearish and likely adding pressure on scrap prices
In exports, Turkish long steel offers were largely stable. Rebar export offers were reported at USD 555-560 per ton FOB, while wire rod offers were heard at USD 565-570 per ton FOB.
