This Content Is Only For Paid Subscribers
Turkey’s scrap import prices remained broadly stable this week, with Turkish mills maintaining a cautious purchasing approach. MESTEEL assessed HMS 1&2 (80:20) at USD 375 per ton CFR Turkey, unchanged week-on-week.
Market activity remained limited, as Turkish steel mills focused on covering immediate requirements while suppliers continued to defend their price ideas, supported by constrained scrap availability and firm freight costs.
Freight rates have remained elevated amid renewed tensions in the Middle East, with higher oil prices and ongoing risks to shipping through regional waterways increasing transportation and insurance costs. This has provided an additional floor for delivered scrap prices and limited the potential for a decline despite subdued mill demand.
However, despite firm supplier-side offers, weak finished steel demand continued to limit Turkish steel mills’ ability to accept significantly higher scrap costs.
Turkish export rebar prices were assessed at USD 590-600 per ton FOB, while wire rod prices stood at USD 610-620 per ton FOB, up USD 5-10 per ton week-on-week. Market insiders said firmer finished steel prices were largely supported by higher input costs rather than a significant improvement in demand.