Turkey’s scrap import prices continued to rise this week as Turkish steel mills booked new cargoes at higher rates. Prices were assessed at USD 345-355 per ton CFR, up from USD 340-350 per ton CFR last week.
The increase in scrap prices is largely driven by lower scrap collection during the winter, keeping suppliers optimistic. However, Turkish steel mills remain cautious due to slow finished steel sales in both local and export markets. Despite this, sentiment remains positive as the outlook for Turkish steel demand improves following an easing of geopolitical tensions in the region.
Turkish long steel export offers remained stable over the past week. Rebar export offers are in the range of USD 560-570 per ton FOB, while wire rod offers stand at USD 575-585 per ton FOB.
