Turkey’s imported scrap prices remained range-bound this week, with Turkish steel mills showing limited buying interest amid weak finished steel demand and cautious purchasing. MESTEEL assessed HMS 1&2 (80:20) at USD 375 per ton CFR Turkey, broadly unchanged week-on-week.
Buying activity remained sparse as Turkish steel mills continued to focus on replenishing inventories for near-term requirements. Despite some bookings during the week, prices remained largely unchanged as weak steel demand continued to limit the upside in scrap prices.
Suppliers, meanwhile, continued to hold their price ideas firm, supported by limited scrap availability and higher freight costs.
Turkish export rebar prices increased to around USD 585-595 per ton FOB, up USD 5-10 per ton week-on-week, while wire rod prices were assessed at USD 600-610 per ton FOB. Market insiders said the increase in export offers was mainly cost-driven rather than demand-led, with sales to overseas markets remaining weak.