Turkey’s import scrap market extended its upward trend this week, supported by firm supplier sentiment and high freight costs. HMS 1&2 (80:20) import prices were assessed at USD 410-415 per ton CFR, up USD 5-10 per ton week-on-week.
Suppliers continued to target higher price levels amid persistently high freight rates and constrained scrap availability, reinforcing bullish sentiment. However, the upward movement contrasts with weak finished demand for Turkish steel.
Turkish mills are still facing subdued finished steel demand, limiting their ability to pass on higher raw material costs. As a result, mills have remained cautious in scrap procurement, focusing on short-term requirements and margin management.
Billet availability has also been constrained, partly due to the absence of Iranian-origin material amid regional tensions, along with longer lead times from Asian suppliers and rising freight costs. This has limited mills’ appetite for imported semis.
On the London Metal Exchange, scrap futures for May 2026 increased to USD 417 per ton, up from USD 404.7 per ton last month. Forward curves strengthened further, with June at USD 424.5 per ton and July at USD 423.5 per ton.
Despite higher scrap costs, Turkish long steel export prices remained under pressure due to weak demand. Rebar export offers were heard at USD 600-610 per ton FOB, while wire rod offers stood at USD 620-630 per ton FOB, largely unchanged.