Turkey’s scrap import prices continued to rise this week, reaching USD 365-375 per ton CFR, up from USD 360-365 per ton CFR last week.
The upward trend is driven by higher collection costs and strong market sentiment in the U.S., where tariffs on steel imports have bolstered confidence in the domestic steel industry. Additionally, the strengthening EUR against USD has pushed up European-origin scrap offers.
Despite bullish supply conditions, weak Turkish steel demand remains a concern. The rising scrap prices have led Turkish steel mills to procure billets to improve margins. However, several scrap cargoes were still booked this week to replenish inventory.
On the export front, Turkish steel producers have raised their offers due to higher scrap costs, but demand remains weak in the overseas markets. Rebar export prices now stand at USD 565-575 per ton FOB, while wire rod offers have increased to USD 580-590 per ton FOB, marking a USD 5 per ton rise from the previous week.
