Turkey’s imported scrap prices rose this week to USD 340-345 per ton CFR, up from USD 335-340 per ton CFR last week, supported by higher freight and collection costs. However, buying sentiment remains weak as mills continue to face sluggish finished steel demand.
Suppliers argue that lower prices are unlikely given rising collection costs, volatile exchange rates, and higher freight rates. Some market participants noted that mills may eventually have to accept higher scrap prices following recent changes to the Inward Processing Regime (DIR), which now requires exporters to source at least 25pct of finished steel domestically. The rule has made sourcing imported semis, bought in large volumes earlier this year, more difficult.
Turkish long steel export offers remain stable, with rebar at USD 545-555 per ton FOB and wire rod at USD 560-570 per ton FOB.
