Turkey’s imported scrap prices softened slightly this week as steel mills maintained cautious purchasing amid weak finished steel demand and squeezed profit margins. HMS 1&2 (80:20) import prices were assessed at around USD 410 per ton CFR.
Market participants said Turkish mills largely stayed away from aggressive bookings, with buyers attempting to push prices lower while suppliers remained firm due to high freight costs, higher scrap collection prices, and rising energy costs linked to tensions in the Middle East.
Meanwhile, Turkish steel mills continued to face margin pressure amid rising energy costs and weak construction activity, which has resulted in slower long steel sales in both domestic and export markets.
According to LME forward curves, Turkish scrap futures indicate a mild contango structure later in 2026, reflecting expectations of tighter scrap availability and higher collection costs toward winter months. Meanwhile, Turkish rebar futures remained largely flat at around USD 590 per ton FOB through 2027, signaling limited optimism regarding finished steel demand recovery.
Turkish long steel export offers remained largely stable this week, with rebar export offers heard at around USD 595-605 per ton FOB, while wire rod export offers stood at USD 615-625 per ton FOB.