Turkey’s imported scrap market saw a slight uptick this week, even as sluggish finished steel sales slowed buying activity. Current import offers are assessed at USD 340-345 per ton CFR, up slightly from last week’s USD 335-345 range.
Turkish mills are resisting higher-priced offers, particularly for U.S.-origin scrap, citing weak demand for finished products. However, scrap suppliers are holding firm, supported by tight collection volumes. European sellers also point to a stronger euro, while U.S. exporters benefit from firm domestic demand.
Some market participants believe renewed tensions in the Red Sea could prompt Turkish mills to favor scrap over cheaper billet imports from Asia. Earlier this week, Yemen’s Houthi rebels targeted the bulk carrier Magic Seas, forcing the crew to abandon the ship, which was carrying fertilizer and billets from China to Turkey.
On the finished steel side, export offers declined by USD 5 per ton over the past week. Turkish rebar is now quoted at USD 535-545 per ton FOB, while wire rod offers range between USD 550-560 per ton FOB.
