Turkiye: Imported ferrous scrap prices hit 8-month high

• Turkish scrap market steady supported by Jan’26 demand
• EU-origin deals boost sentiment despite soft rebar market

Imported deep-sea scrap prices in Turkiye held largely stable w-o-w, but the market quietly reached a significant milestone with prices touching $370/t CFR – a level last seen in April 2025. While the weekly change was marginal, sentiment was supported by several EU-origin bookings earlier in the week and steady mill interest for January and early February shipment.

Price assessments

• US-origin bulk HMS 80:20 was assessed at $370/t CFR Turkiye, up just $1/t w-o-w.
• HMS 80:20 from the US East Coast rose to $339/t FOB, up $3/t w-o-w.

The scrap-to-rebar spread hovered around $205-210/t, with rebar export offers at $570-575/t FOB.

Recent deals

• A West Marmara-based mill concluded a deal for HMS 80:20 from the Netherlands.
• A Mediterranean-region mill concluded a deal for HMS 80:20 from the US.
• An Aegean-region mill concluded a deal for HMS 80:20 from Germany.

Market scenario
A market participant noted that mills still need to cover January requirements, and with December shortened by holidays, buying windows are limited. Tight scrap availability and elevated freight continued to pressure seller margins.

Importers continued to restock, while exporters noted limited cargo availability. Meanwhile, the gap between buyers’ and sellers’ price expectations remained.

Participants noted that cooler weather in Turkiye has softened domestic construction activity, which in turn dampened rebar demand and reduced sales volumes.

Domestic market update

Rebar demand stayed subdued, leaving mills hesitant to book large tonnages of scrap. Domestic rebar was offered at $585-590/t ex-works, with export offers heard around $570/t FOB.

Participants highlighted that uncertainty over future demand continues to restrict mill appetite for bulk purchases.

Outlook
Despite softer rebar sentiment, many sell-side players believe scrap prices could remain firm, especially if mills return to the market more aggressively for January shipments. With prices already at the $370/t CFR level for the first time since April, the market is showing underlying strength even as weekly movements appear muted.