Turkey’s imported scrap prices remained largely stable this week, as steel mills continued cautious procurement amid weak finished steel demand and squeezed margins. HMS 1&2 (80:20) import prices were assessed at around USD 410-415 per ton CFR.
Turkish mills remained under pressure from the imbalance between rising raw material costs and relatively weaker gains in finished steel prices. Meanwhile, scrap suppliers continued targeting higher prices, although buyer resistance remained strong due to weak downstream demand and margin pressure. Elevated freight rates and limited cargo availability continued to support exporter offers.
Market insiders said Turkish mills largely continued purchasing scrap on a hand-to-mouth basis. Alternative options, particularly billet imports, also became less attractive in recent weeks due to either longer lead times or higher prices, narrowing their competitiveness against scrap. Meanwhile, Turkish steelmaker Kardemir reportedly sold nearly 100,000 tons of billet in its latest sales round at relatively competitive prices of USD 530-540 per ton EXW.
According to LME forward curves, Turkish scrap and rebar futures currently remain in a mild contango structure, reflecting expectations for stable-to-firm pricing into the summer period. Front-month Turkish scrap futures were indicated around USD 413-416 per ton, while rebar futures remained near USD 605-615 per ton.
Turkish long steel export offers remained largely unchanged this week, with rebar export offers heard at USD 595-605 per ton FOB, while wire rod offers stood at USD 615-625 per ton FOB.