Turkiye: Deep-sea bulk scrap imports rise by 6% y-o-y in 9MCY’25

• Average US scrap import prices fall $40/t y-o-y in 9MCY’25
• Mills to continue selective purchases amid weak steel sales

Turkiye’s bulk scrap imports in 9MCY’25 stood at 11.87 million tonnes (mnt), increasing by 6% from 11.21 mnt in 9MCY’24. Mills mostly undertook selective procurement amid a subdued finished steel market, with lower scrap prices and a marginal increase in crude steel output leading to a mild increase in imports.

According to BigMint’s vessel-tracker data, 192-195 deep-sea bulk vessels were scheduled to berth (ETB) in 9MCY’25.

Notably, Turkish mills are likely to keep scrap imports moderate while turning to billet and semis to manage costs.

Average import prices in 9MCY’25

• US-origin HMS 80:20 averaged $349/t CFR Turkiye in 9MCY’25, down $40/t from $389/t in 9MCY’24.
• US-origin HMS 80:20 averaged $325/t FOB East Coast in 9MCY’25, down $38/t from $363/t in 9MCY’24.
• Bulk Rotterdam HMS 80:20 averaged $323/t FOB Europe in 9MCY’25, down $36/t from $359/t in 9MCY’24.

Imported deep-sea ferrous scrap prices in Turkiye declined in 9MCY’25 amid a quiet market. Trading activity was limited, as a gap between offers and bids emerged, while participants were cautious due to weakening rebar prices and subdued demand in both domestic and export markets.

Key updates

Turkiye’s crude steel production: Turkiye’s crude steel production stood at 28.05 mnt in 9MCY’25, increasing by 1% from 27.91 mnt in 9MCY’24.

The Turkish lira depreciated 22%, with the average value against the US dollar dropping to TRY 39 in 9MCY’25 compared to TRY 32 in 9MCY’24.

Billet imports rise: In 9MCY’25, billet imports totalled 6.2 mnt, up 27% from 4.9 mnt in 9MCY’24.

HRC imports edge up: Turkiye’s HRC imports in 9MCY’25 totalled 3.43 mnt, up 9% y-o-y from 3.14 mnt in 9MCY’24.

Rebar imports surge: Turkiye’s rebar imports rose by 26% y-o-y to 0.43 mnt in 9MCY’25 from 0.34 mnt in 9MCY’24.

Outlook

Turkiye’s scrap demand is expected to stay slow, with mills maintaining selective buying due to weak finished steel sales and narrow margins. BigMint vessel-tracker data shows bulk arrivals dropped to 1.1 mnt in October from 1.6 mnt in September, amid reduced import appetite.

Any price rebound appears unlikely without stronger export orders or seasonal restocking support. Stable-to-firm freights may keep prices range-bound, with only major supply disruptions offering limited upside.