Turkiye: Imported ferrous scrap prices remain stable w-o-w amid Republic Day holidays

• Mills mostly covered till late Nov’25 
• Steel prices weak, buyers cautious about scrap bookings

Imported deep-sea ferrous scrap prices in Turkiye remained stable w-o-w, as trading activity stayed muted early in the week and slowed further due to the Republic Day holidays on 29 October 2025.

Only 1-2 cargoes were booked over the past week as mills and suppliers stayed cautious amid a wide bid-offer gap and subdued buying interest.

Global cues

Participants remained watchful of global macroeconomic developments, particularly the US Federal Reserve’s interest rate decision later in the day, which kept market sentiment uncertain.

Around 1-2 cargoes were booked over the past 6-7 days.

Price assessments

• US-origin bulk HMS 80:20 was assessed at $351/t CFR Turkiye, stable w-o-w.
• Bulk HMS 80:20 from the US East Coast stood at $322/t FOB, stable w-o-w.

The Turkish scrap-to-rebar spread remained at $190-195/t. Rebar offers stood at $540-545/t FOB

Market scenario

A market participant noted that tradable values for US/Baltic-origin premium HMS 80:20 were assessed at $350-353/t CFR, while EU-origin material was heard at $340-345/t CFR.

Participants closely monitored freight rates, which remained elevated and continued to weigh on market activity. A market participant said that costs had risen from $25/t to $35/t in recent months.

Domestic market updates

Domestic market activity remained sluggish, as many Turkish mills reduced operations during the national holidays. Most mills had already secured sufficient scrap for late November deliveries.

Rebar demand remained weak in both domestic and export markets, with FOB prices hovering around $540/t. Prices are expected to soften further to $535/t this week amid sluggish steel consumption and limited export orders.

Outlook

Most participants remain in a wait-and-see mode. Weak steel demand and high freight rates are likely to keep scrap buying cautious in the near term. Mills are expected to remain in a wait-and-see mode, with prices likely staying rangebound until post-holiday demand clarity emerges.