Turkiye: Imported bulk scrap prices stable w-o-w as mills eye Sept’25 demand

• Turkish scrap prices steady as mills pause fresh purchases
• Stronger US fundamentals; freight costs may lift offers

Turkiye’s deep-sea ferrous scrap import prices held largely stable w-o-w at around $346/tonne (t) CFR. Market sentiment stayed cautious amid the strengthening US Dollar against the Euro and concerns over the looming 50% tariff on Brazilian imports to the US.

Participants also pointed to rising dry bulk freight costs and stronger US domestic fundamentals, which could lift US-origin HMS 80:20 offers. Firmer Asian billet prices were expected to support scrap demand, though seasonal monsoon rains and the summer lull continued to curb rebar demand and weaken scrap appetite across Asian markets.

Limited deep-sea deals were concluded in last seven days as Turkish mills reassessed inventory needs ahead of August production schedules.

BigMint’s price assessments

• US-origin HMS 80:20 bulk scrap stood at $340/t CFR Turkiye, inched down by $1/t w-o-w.
• Bulk HMS 80:20 from the US East Coast was at $320/t FOB, up $2 /t w-o-w.

The Turkish rebar-to-scrap spread stood at $185-190/t, with workable levels for Turkish rebars heard up to $535-540/t FOB.

Market updates

Market insiders noted that most mills have already secured their requirements, resulting in a quieter week with sideways price movement.

A market participant noted, “US recyclers held firm, quoting tradable HMS 80:20 values near $350/t CFR, while EU/UK-origin material was reported at $338-342/t CFR.

A Turkish millside participant commented, “Mills paused purchases to gauge near-term price direction amid a slight uptick in rebar sentiment and mills are waiting for their steel sales results to understand upcoming demand.”

Another major steel producer noted, “Demand for finished steel remains weak. The last concluded deals for scrap from the EU and US were around $343-352/t, but it wouldn’t be surprising if scrap prices soften further from here.”

An EU-based recycler highlighted that Turkish mills were dictating pricing levels, leaving exporters to adjust offers accordingly.

Outlook

Some participants believed the weakening Euro could soften prices in the near term, while others argued that higher dry bulk freight costs may prevent recyclers from reducing offers. Buyers are expected to begin negotiations next week for September shipments, which could provide clearer demand signals.