Turkey’s scrap import prices surged this week, driven by firm domestic rebar demand and limited scrap supply. Prices were assessed at USD 345-350 per ton CFR, up from USD 335-340 per ton CFR last week.
A recent accident on the Moselle River also contributed to the price increase. A cargo ship carrying 1,500 tons of scrap metal severely damaged the Muden lock near Cochem, Germany, halting shipping traffic until at least March 2025. This disruption tightened scrap availability, further supporting price gains.
Turkish steel mills secured cargoes at higher prices to meet strong domestic demand for rebar. Leading producer Kardemir sold over 42,000 tons this week, reflecting steady local consumption.
However, Turkish steel exports remained weak due to sluggish overseas demand and intense competition. Export prices for Turkish long steel products were unchanged, with rebar offers at USD 570-580 per ton FOB and wire rod offers at USD 585-595 per ton FOB, despite the rise in scrap costs.
