The Turkish scrap market has remained slow throughout this week. Trade activities are absent in the import market as buyers prefer to wait before taking raw material procurement decisions.
Steel producers are waiting for a better market view ahead of Ramadan. During this period trade usually remains slow owing to slow pace of construction activities and limited work hours. Market participants say that activity is likely to resume in the near term.
SteelMint’s daily assessment for HMS 1&2 (80:20) from the US stood at $450/t CFR Turkiye, down by $10/t w-o-w.
Domestic market overview
- Billet offers slide as demand stays moderate: Finished steel demand is slightly weak in terms of rebar exports where regular buyers like Israel and Yemen have received reasonable offers from other origins, whereas domestic demand is supportive. Billet suppliers from the Iskenderun region were present in the market and offers are at $680‑690/t exw. Demand is low at the moment as everyone is waiting for scrap deals.
- Rebar prices inch down: Turkiye’s steelmakers lowered their rebar export offers with minor discounts to offload existing stocks. Major long steel producer, ICDAS, has kept its rebar quotes unchanged over the last few weeks at $750/t exw Biga and $765/t CFR Marmara.
Outlook: Market players are waiting for the next round of rebar export deals, which may direct the upcoming scrap procurement price. Sellers may keep their offers high amid substantial long steel requirement in the market for redevelopment of infrastructure following the earthquakes.
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