Turkey has witnessed a decrease in scrap import prices over the past two weeks as buying activity remains minimal due to weak finished steel.
Scrap import offers for the Turkish market hover around USD 375 per ton CFR, marking a decrease of USD 5-10 per ton compared to the previous couple of weeks.
The steel demand in Turkey has remained subdued following the recent Eid holidays. In an effort to stimulate sales, rebar producers have lowered their prices. However, the local market has not witnessed a significant uptake in demand. Furthermore, Turkish steel demand in the export market has remained sluggish due to slow demand and competitive pricing from other countries.
As a result, Turkish rebar offers have dropped by USD 20 per ton, ranging from USD 600-610 per ton FOB. Similarly, wire rod export offers now range from USD 620-630 per ton FOB, experiencing a decrease of USD 20 per ton compared to prices from two weeks ago.
