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Turkey’s scrap import prices increased this week, supported by the uptrend in finished steel prices. MESTEEL assessed HMS 1&2 (80:20) at USD 395-400 per ton CFR Turkey, up from USD 390 per ton last week.
Market sentiment remained cautiously positive, with Turkish mills continuing to restock. However, suppliers’ offers above USD 400 per ton are meeting greater resistance from buyers, with most buyers looking for levels below USD 400 per ton.
Some market insiders said alternative raw material supplies, particularly billet from the Black Sea region, remain tight, supporting scrap prices. Higher collection costs and elevated freight rates are also adding further support to suppliers’ positions.
Domestic rebar sales continue to support mills’ scrap purchasing, although the market is becoming more cautious following recent price increases. Turkish steel producer Kardemir opened rebar sales at higher prices this week, but market insiders said sales volumes were relatively limited, indicating that buyers are absorbing the price increases with some caution.
Finished steel export activity remains comparatively weak, with higher Turkish steel offers still failing to gain greater acceptance among overseas buyers.
MESTEEL assessed Turkish export rebar at USD 630-640 per ton FOB, up USD 20 per ton week-on-week, while wire rod prices increased to USD 645-655 per ton FOB, compared with USD 625-635 per ton FOB last week.