Turkey’s scrap import prices surged this week, driven by a series of new bookings at higher levels. Current prices are assessed at USD 335-340 per ton CFR, up from USD 325 per ton CFR last week.
Scrap suppliers have pushed back against lower bids from Turkish steel mills, citing rising collection costs. The uptick in scrap buying activity follows improved rebar sales in international markets. However, local demand remains lackluster, despite Kardemir selling a significant volume of rebar domestically this week.
Despite the recent gains, the outlook for scrap prices remains uncertain. Market insiders note that Turkish mills are reluctant to purchase scrap at elevated prices, which could stall this short-term uptrend.
Meanwhile, Turkish long steel export offers remained mostly stable. Rebar is being offered at USD 540-550 per ton FOB, while wire rod offers stand at USD 560-570 per ton FOB.