Turkiye: Imported scrap prices stable w-o-w, bookings likely to improve from mid-Aug’25

• Scrap imports steady even as Kardemir hikes rebar prices
• Turkish mills start securing scrap as CBAM deadline nears

Turkiye’s deep-sea ferrous scrap import prices remained largely stable w-o-w, assessed around $346/t CFR. After a short break, Turkish mills resumed bookings for September-shipment cargoes, prompted by a shortage of competitive billet offers from Asian markets and marginally improved domestic steel demand.

Although overall sentiment stays cautious, mills are gradually re-entering the market, positioning themselves for a possible seasonal rebound in demand after mid-August.

In last 2-3 days limited deep-sea deals were concluded.

BigMint’s price assessments

• US-origin HMS 80:20 bulk scrap stood at $338/t CFR Turkiye, inched down by $2/t w-o-w.
• Bulk HMS 80:20 from the US East Coast was at $318/t FOB, down $2 /t w-o-w.

The Turkish rebar-to-scrap spread stood at $190-195/t, with workable levels for Turkish rebars heard at around $540-545/t FOB.

Recent deals:

• A Mediterranean-based mill booked US-origin HMS 80:20 at $347/t and shredded/PNS at $367/t CFR.
• Another mill in the same region booked US-origin HMS 80:20 at $346/t and shredded at $366/t CFR.

Market updates

Turkish mills booked considerable deep-sea scrap volumes in July and plan to continue in August, supported by a slight rise in long steel demand and expectations of seasonal recovery, despite sluggish construction activity due to extreme heat.

A market participant noted, “Turkish deep-sea market indicated that US and Baltic-origin HMS 80:20 scrap offers were reported at $345-350/t CFR. Meanwhile, EU-origin HMS 80:20 was heard at $338-342/t CFR, based on quality differentials.

On the collection side, scrap prices in the Benelux region were heard at EUR 250-260/t delivered to docks.

Domestic market

The domestic sentiment in Turkiye received mild support from improving conditions in China and a small uptick in European downstream activity, partly driven by the upcoming Carbon Border Adjustment Mechanism (CBAM) deadline. However, overall domestic trading activity remains subdued due to the ongoing summer holidays in Europe.

Kardemir offered 12-32mm rebar at TRY 22,625/t ($556/t) exw or TRY 27,150/t ($667/t) with VAT, selling 45,000 t. Domestic demand improved slightly, but flat steel and rebar exports stayed weak. Shortsea activity remained limited as sellers held back for better margins.

Outlook

Market sources expect limited trade activity over the next one to two weeks, with expectations of more meaningful demand resuming after mid-August. Meanwhile, buyer interest from Egypt is seen as a partial offset to weak demand in the Turkish construction sector. Buyers are cautious but likely to stay active in bookings for September cargoes, particularly if billet availability remains constrained.