Turkey’s scrap import prices witnessed a significant decline as buyers secured cargoes at lower prices. Scrap import offers for the Turkish market now stand at about USD 355 per ton CFR, marking a decrease of USD 10-15 per ton compared to the previous week.
The steel trading activity in Turkey remained subdued this week due to several factors. The lack of demand for Turkish steel products both domestically and internationally, along with currency depreciation and the government’s decision to raise taxes, contributed to the muted trading environment.
As a result of these market conditions, Turkish rebar offers also experienced a drop, falling by USD 10-15 per ton and currently ranging from USD 575 to 585 per ton FOB. Additionally, Turkish wire rod export offers decreased to approximately USD 590-600 per ton FOB, down from last week’s range of USD 605-615 per ton FOB.
