Turkiye: Imported ferrous scrap prices rise by $7/t w-o-w amid strong rebar demand

• Turkish deep-sea scrap prices rise on stronger rebar demand
• Limited rebar stocks and winter restocking support higher prices

Imported deep-sea scrap prices in Turkiye rose by $7/t w-o-w, with participants noting that stronger rebar prices were driving the upward trend. Elevated freight rates and firm collection costs in both the US and Europe also supported higher levels, contributing to overall price gains over the week.

Around six to seven imported scrap deals were concluded in the past seven days.

Price assessments

• US-origin bulk HMS 80:20 was assessed at $363/t CFR Turkiye, up by $7/t w-o-w.
• Bulk HMS 80:20 from the US East Coast stood at $332/t FOB, up by $9/t w-o-w.

The scrap-to-rebar spread stayed around $200-205/t, with rebar offers at $560-565/t FOB.

Market scenario

A market participant said Participants reported that US-origin HMS 80:20 was tradable at $360-363/t CFR, while EU-origin scrap was heard at $355-358/t CFR, supported by firm collection costs and steadily improving demand from Turkish mills.

A mill side participant commented, “Not many mills have sufficient rebar in stock, which is driving scrap prices and rebar inventories in Turkey are shaping the scrap price trend; some mills reduced rebar production, affecting current stock levels.”

Market participants noted that Turkish mills were actively sourcing deep-sea material for winter restocking, as domestic finished steel sales remained strong and most mills are fully booked through January.

Domestic market update

Robust local demand, coupled with a potential winter scrap shortage, has prompted increased buying in Turkey’s downstream rebar market. Participants reported rising trading activity, with mills across the country raising listing prices in response to stronger domestic demand.

Outlook

With domestic finished steel sales holding strong, winter restocking underway, and limited shortsea supply, Turkish deep-sea scrap prices are expected to remain supported in the near term. Mills’ rebar stock levels will continue to play a critical role in shaping price trends.