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Turkey’s scrap import prices remained largely unchanged this week, although Turkish mills have become more cautious about further purchases amid slower finished steel sales. MESTEEL assessed HMS 1&2 (80:20) at USD 400 per ton CFR Turkey, compared with USD 395-400 per ton last week.
Market sentiment has become more mixed, with recent transactions and offers indicating that scrap prices are approaching a potential peak. Rising collection costs and higher freight rates continue to support suppliers’ positions, limiting the scope for a significant price decline.
However, Turkish mills are showing less buying appetite as rebar sales slow and margins come under pressure.
The absence of Russian billet offers via the Black Sea route, together with the upcoming Chinese holiday, is keeping Turkish interest in billet relatively low for now.
Market insiders are divided, with some believing scrap prices may have reached a peak as finished steel sales slow and steel demand typically weakens during the winter season. Others see potential for a further modest increase, citing rising collection costs and possible tightening of scrap availability as winter approaches.
MESTEEL assessed Turkish rebar export offers at USD 625-635 per ton FOB, down from USD 630-640 per ton FOB last week, while wire rod was assessed at USD 640-650 per ton FOB, compared with USD 645-655 per ton FOB previously.