Turkey’s imported scrap prices remained firm this week, supported by tighter European scrap availability and higher freight costs. Buying activity, however, slowed after producers stepped back to reassess market conditions following a series of recent bookings. MESTEEL assessed HMS 1&2 (80:20) import prices at USD 375 per ton CFR, up from USD 370-375 per ton CFR last week.
Suppliers maintained firm offer levels as constrained export scrap availability and logistical disruptions caused by low water levels on Germany’s Rhine River continued to restrict inland scrap flows. Expectations of additional September cargo demand also helped support the stronger market tone.
Turkish mills, meanwhile, remained cautious as weak long steel demand and the seasonal summer slowdown continued to weigh on finished steel consumption. Several producers shifted their focus toward domestic billet purchases, supported by limited availability of competitively priced imported billet.
Market insiders said the recent recovery in scrap prices has yet to be matched by stronger finished steel demand, with both domestic consumption and export sales remaining subdued. As a result, the sustainability of the firmer scrap market will largely depend on a broader improvement in finished steel demand in the weeks ahead.
MESTEEL assessed Turkish export rebar prices at USD 575-580 per ton FOB, unchanged from last week, while export wire rod prices also remained steady at USD 590-595 per ton FOB.