Turkey’s import scrap prices remained stable this week, as firm supplier sentiment was offset by resistance from Turkish steel mills amid weak finished steel demand. HMS 1&2 (80:20) import prices were assessed at USD 410-415 per ton CFR.
The market continued to face a struggle between high raw material costs and weak finished steel demand. Scrap suppliers in Europe and the U.S. maintained firm offers due to constrained scrap collection, seasonal disruptions, and high logistics costs.
However, Turkish steelmakers continued to resist higher scrap prices as weak domestic and export demand for finished steel products continued to pressure margins. Market insiders estimated that rebar-scrap spreads in Turkey remained below the USD 200 per ton level generally considered necessary for financially sustainable operations, leaving several mills operating at near-zero or negative margins depending on energy and production costs.
Turkish mills therefore remained cautious in scrap procurement, purchasing mainly to cover short-term production requirements.
On the London Metal Exchange, scrap futures reflected expectations of continued firm prices. May 2026 scrap futures stood at USD 416 per ton, while June and July contracts were assessed at USD 425 per ton and USD 426 per ton, respectively.
LME steel rebar forward prices also indicated continued pressure on margins, with June and July 2026 contracts remaining around USD 605 per ton before increasing slightly to USD 615 per ton by September.
Despite firm scrap costs, Turkish long steel export prices continued to face pressure from weak demand. Rebar export offers were heard at USD 595-605 per ton FOB, while wire rod offers stood at USD 615-625 per ton FOB, both down by USD 5 per ton over the past week.