Turkish imported scrap prices moved higher this week as steel mills returned to the market to replenish inventories after delaying purchases over the past few weeks. MESTEEL assessed HMS 1&2 (80:20) import prices at USD 370-375 per ton CFR, compared with USD 365-370 per ton CFR a week earlier.
Buying activity improved during the week as several mills booked scrap cargoes. The renewed demand, coupled with higher freight costs, strengthened suppliers’ bargaining position and supported firmer import prices.
The stronger scrap market also lifted domestic finished steel sentiment. Turkish rebar producers increased domestic offers during the week, while Kardemir’s latest rebar sales round attracted healthy buying interest.
Despite the recent recovery, market insiders remained cautious over the sustainability of the price increase, as domestic and export sales continue to lag seasonal expectations. Further gains are expected to depend on a broader improvement in finished steel demand and export activity.
In the finished steel segment, MESTEEL assessed Turkish export rebar prices at USD 575-580 per ton FOB and wire rod export prices at USD 590-595 per ton FOB, both up USD 5 per ton from last week.