Turkey’s scrap import prices increased this week, supported by reports of a limited number of deals at higher price levels. HMS 1&2 (80:20) import prices were assessed at USD 405 per ton CFR, up USD 5 per ton week-on-week.
Market participants said fundamentals remain largely unchanged, with the recent price increase primarily driven by higher costs. Ongoing regional tensions have pushed up freight and energy rates, providing upward pressure on scrap prices.
Some improvement in steel demand was noted, with Kardemir securing billet orders during the week. However, market sentiment remains cautious, with participants indicating that stronger finished steel demand is needed to sustain the upward trend.
Rising global billet prices may also encourage Turkish mills to increase scrap buying activity in the near term.
In the export market, Turkish long steel prices remained firm, supported by higher scrap costs and the disappearance of lower offers. Rebar export offers were heard at around USD 600-610 per ton FOB, up USD 10 per ton week-on-week, while wire rod offers were at USD 620-630 per ton FOB, largely unchanged.