Turkey’s scrap import market increased this week, as suppliers pushed for increased prices despite resistance from Turkish mills. Current scrap import offers are assessed at USD 340-350 per ton CFR, compared with USD 340-345 per ton CFR the previous week.
However, buying activity remained sluggish as Turkish mills adopted a cautious stance. Concerns over weak demand for finished steel limited expectations for further price gains, leading to a widening gap between bids and offers. This mismatch further dampened scrap trade activity.
On the finished steel export front, Turkish long steel prices saw a modest rise. Rebar export offers increased by USD 5 per ton over the week, now standing at USD 555-565 per ton FOB. Wire rod is offered at USD 575-585 per ton FOB.