Turkish scrap import prices continued to decline this week, pressured by weak demand for finished steel. Prices were assessed at USD 345-350 per ton CFR, down from USD 365-370 per ton the previous week.
The decline is largely driven by weak demand for finished steel products. Additionally, recent hikes in electricity and gas tariffs, Turkish currency volatility, and ongoing uncertainty due to U.S. tariffs on major trading partners have further dampened market sentiment.
Turkish export offers for long steel products also declined. Rebar export prices slipped to USD 550-560 per ton FOB, from USD 575-580 last week, while wire rod was offered at USD 570-580 per ton, down USD 10-15 week-on-week.