Turkey’s imported scrap prices weakened this week as steel mills continued to limit purchases due to weak finished steel demand. HMS 1&2 (80:20) import prices were assessed at around USD 400 per ton CFR, down from USD 410 per ton previously.
Market insiders said scrap buying activity remained subdued, with mills largely procuring cargoes on a need-to-buy basis. Weak domestic and export demand for finished steel continued to pressure steelmakers’ margins, reducing their willingness to accept higher scrap prices at a time when they are also facing high energy costs.
At the same time, ample scrap availability from Europe and the United States increased competitive pressure among suppliers and contributed to the softer market trend.
The weaker physical market was also reflected in futures trading. Front-month scrap futures on the London Metal Exchange (LME) moved lower, with the June 2026 contract closing at USD 401.50 per ton on June 4, the July 2026 contract at USD 402.00 per ton, and the August 2026 contract at USD 399.50 per ton.
Turkish long steel export prices also moved lower during the week. Rebar export offers were heard at USD 590-600 per ton FOB, while wire rod export offers were reported at USD 610-620 per ton FOB, both down USD 5 per ton week-on-week.
