Turkey’s scrap import prices declined this week as Turkish steel mills booked several European-origin scrap cargoes at lower prices. Scrap import prices were assessed at USD 360-365 per ton CFR, down from USD 370 per ton CFR the previous week.
In the finished steel segment, demand for Turkish long steel improved in both domestic and export markets, leading local rebar producers to raise prices. However, with a subdued response to U.S. Federal Reserve interest rate cuts in the Chinese and broader Asian markets, analysts are cautious about whether this positive sentiment will persist in the coming week.
Turkish long steel export offers rose by USD 10-15 per ton over the past week, with rebar export prices at USD 590-600 per ton FOB and wire rod export prices at USD 605-615 per ton FOB.
