Turkey’s scrap import prices have remained unchanged in the past week as mills refrain from entering the market amid sluggish steel demand.
Scrap import offers for the Turkish market are currently hovering around USD 385 per ton CFR.
The recent shift in the country’s interest rate policy, coupled with significant currency depreciation, has further dampened market sentiments.
Turkish mills are adopting a cautious approach and assessing the situation before making any additional purchases, especially with the upcoming Eid holidays next week.
Consequently, both domestic and overseas demand for finished steel has remained weak.
Turkish steel offers stand at approximately USD 620-630 per ton FOB, while wire rod export offers range from USD 650-660 per ton FOB.
