Turkey’s scrap import prices experience further decline as steel demand remains subdued.
Scrap import offers for the Turkish market are in the range of USD 345-350 per ton CFR, reflecting a decrease of USD 5-10 per ton compared to the previous week.
While steel mills have booked several cargoes to meet restocking demand, overall steel demand remains a concern. Several factors contribute to this slowdown, including currency depreciation, higher government taxes, and stringent lending rules, which have impacted steel trading in the local market.
In addition to domestic challenges, weak steel demand is also observed in overseas markets due to competitive pricing from other countries and sluggish overall demand.
Turkish rebar export offers have dropped to USD 550-560 per ton FOB, declining by USD 15-25 per ton over the past week. Similarly, Turkish wire rod export offers have decreased by USD 10 per ton over the same period, now priced at USD 580-590 per ton FOB.
