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Turkey’s scrap import market came under pressure this week as declining domestic finished steel prices and weak demand prompted mills to seek lower prices. MESTEEL assessed HMS 1&2 (80:20) at USD 400 per ton CFR Turkey, largely unchanged week on week.
Scrap buying activity remained limited, with neither buyers nor sellers showing urgency to conclude deals. According to market insiders, an EU-origin cargo was booked below USD 400 per ton CFR Turkey, indicating downward pressure, although it remains to be seen whether this develops into a broader trend next week.
Turkish mills are seeking lower scrap prices as domestic rebar demand weakens and prices decline. Domestic rebar offers have eased, adding to pressure on scrap suppliers to make concessions.
However, high freight costs are limiting suppliers’ willingness to reduce prices further.
LME steel scrap futures also reflected relatively stable near-term expectations, with the October 2026 contract settling at USD 396.50 per ton and November at USD 395.50 per ton. The forward curve rises gradually towards USD 400 per ton in Q1 2027 and around USD 410 per ton in late 2027, indicating expectations of firmer prices further out.
MESTEEL assessed Turkish rebar export offers at USD 615-625 per ton FOB, down from USD 620-630 per ton previously, while wire rod was assessed at USD 635-645 per ton FOB, compared with USD 640-650 per ton a week earlier.
