Turkey’s scrap import prices rose this week as mills booked cargoes at higher rates, though a sharp decline in Chinese prices dampened market sentiment toward the end of the week, potentially limiting further price increases.
Scrap import prices were assessed at USD 370 per ton CFR, up from USD 360-365 per ton CFR the previous week.
The scrap price increase was driven by urgent restocking needs and improved steel demand. However, concerns persist about future demand, particularly with the sharp decline in Chinese prices, which could lead to cheaper billet import offers in the near future.
Turkish long steel export offers also rose this week, with rebar export prices at USD 575-585 per ton FOB and wire rod export prices at USD 590-600 per ton FOB, reflecting a USD 5 per ton increase compared to last week.
