Turkiye: Imported scrap prices remain largely stable w-o-w amid limited inquiries

• Mills may return for Sept’25 bookings
• Scrap prices to be swayed by steel demand

Turkiye’s deep-sea ferrous scrap import prices edged down by $1/t w-o-w to $346/t CFR as mills maintained limited buying interest. Weak demand for finished steel products continued to weigh on sentiment, with buyers holding back from major purchases despite expectations of increased booking activity for September shipments.

Price assessments

• US-origin HMS 80:20 bulk scrap was assessed at $346/t CFR Turkiye, down $1/t w-o-w.
• Bulk HMS 80:20 from the US East Coast stood at $317/t FOB, a decrease of $1/t w-o-w.

The Turkish rebar-to-scrap spread remained at $190-195/t, with workable rebar export prices reported at $535-540/t FOB.

Market updates

A market participant said, “Conditions as steady but cautious, with tradable levels for US and Baltic-origin HMS 80:20 reported at $346-348/t CFR, while EU-origin material was slightly lower at $342-343/t CFR.”

Some scrap suppliers were heard raising offer prices, citing higher collection and freight costs alongside euro-US dollar currency fluctuations.

A mill executive said, “Mills have largely delayed fresh bookings, with weak rebar and wire rod sales in both domestic and export markets leaving little interest for fresh cargoes.”

Participants also pointed to Turkiye’s upcoming Central Bank Monetary Policy Committee meeting in September and broader geopolitical developments as factors that could influence demand for finished steel.

Domestic market

In the domestic market, rebar and wire rod demand remained subdued amid the summer slowdown and financial headwinds, leading mills to scale back scrap procurement.

A trader noted that billet demand has stayed steady, which should limit sharp price movements through the end of August. Overall, market activity was described as quiet, with both buyers and sellers adopting a cautious stance.

Outlook

Participants expect mills to return to the import market for the rest of September shipments, but near-term sentiment remains soft. But some stability in billet demand may prevent sharp declines.