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Turkey’s scrap import prices increased this week as improving finished steel demand encouraged mills to increase buying interest, while limited scrap availability and higher freight and collection costs continued to support prices.
MESTEEL assessed HMS 1&2 (80:20) at USD 390 per ton CFR Turkey, up USD 10 per ton week-on-week.
Market sentiment improved as domestic and export rebar demand strengthened, giving Turkish mills greater confidence to absorb higher scrap costs. Mills were also focused on securing material for October shipments.
Improved domestic demand was also reflected in recent sales by local producer Kardemir, which sold more than 30,000 tons of rebar in a short period before closing sales. The company raised its rebar price by around USD 19 per ton from late-August levels.
Scrap suppliers remained firm in their pricing, supported by limited availability, higher collection and freight costs and alternative outlets for material.
Turkish export rebar prices were assessed at USD 610-620 per ton FOB, up USD 15 per ton week-on-week, while wire rod prices increased by the same amount to USD 625-635 per ton FOB.