Turkey’s scrap import prices remained stable this week at USD 345-347 per ton CFR, as buying activity slowed on the back of weak finished steel demand.
Many Turkish steel mills, focusing on selling finished steel, deferred scrap bookings amid cautious market sentiment. The slowdown was attributed to the holiday period in Europe and volatility in Chinese steel prices.
Nevertheless, Turkish steel mills are expected to resume purchases to replenish inventories, especially given the absence of competitive billet offers from Asia.
Export offers were mostly unchanged, with rebar at USD 540-550 per ton FOB and wire rod at USD 555-565 per ton FOB.
