Scrap import prices firm on higher costs despite weak buying sentiment

Turkey’s scrap import prices edged higher this week, supported by higher costs, although buying activity remained limited as slowing finished steel demand made mills cautious about accepting further increases. MESTEEL assessed HMS 1&2 (80:20) at USD 400-405 per ton CFR Turkey, compared with USD 400 per ton previously.

Scrap buying activity was muted this week as Turkish mills showed little urgency due to slowing rebar demand, limiting their appetite to accept higher scrap prices.

Scrap suppliers, meanwhile, are maintaining firm offers, with high freight costs and relatively tight scrap availability continuing to support prices.

MESTEEL assessed Turkish rebar export offers at USD 620-630 per ton FOB, down from USD 625-635 per ton previously, while wire rod was assessed at USD 640-650 per ton FOB, unchanged week-on-week.