Turkish imported scrap prices continued to decline this week as weak finished steel demand, falling rebar prices and limited booking activity kept pressure on the market. MESTEEL assessed HMS 1&2 (80:20) import prices at USD 380 per ton CFR, down from USD 390-395 per ton CFR a week earlier.
Trading activity in the deep-sea scrap market remained subdued, with only a limited number of cargoes reportedly booked during the week. Turkish mills largely maintained a hand-to-mouth purchasing strategy, focusing on preserving margins and securing additional discounts rather than rebuilding raw material inventories.
Market insiders said domestic and export demand for finished steel products remained weak despite repeated price reductions, continuing to squeeze steelmakers’ profitability. Mills remained cautious with raw material purchases, while seeking lower scrap prices to improve margins.
Reflecting weaker steel market fundamentals, MESTEEL assessed Turkish export rebar prices at USD 580-590 per ton FOB and wire rod prices at USD 595-605 per ton FOB, both down by USD 5 per ton from the previous week. Market participants said mills remain willing to negotiate further discounts to secure export orders.
