Turkiye: Imported ferrous scrap prices rise on supply tightness, currency pressure

• US-origin scrap values strengthen in Turkiye
• Currency pressure supports Turkish scrap prices

Scrap prices in Turkiye rose on supply tightness and currency-driven cost support, with deep-sea prices edging up on exporter optimism, and domestic scrap prices rising amid restocking, though weak rebar demand continues to cap aggressive buying and limits near-term upside.

Price assessments

• US-origin bulk HMS 80:20: $371/t CFR Turkiye, up by $1/t w-o-w.
• US East Coast HMS 80:20: $346/t FOB, up $2/t w-o-w.

Scrap-to-rebar spread: $189-194/t, with rebar export offers at $560-565/t FOB

Market commentary

Turkish deep-sea imported scrap prices edged higher, supported by fresh deal indications and improving sell-side sentiment. Market participants stated that “Flurry of unconfirmed bookings, with US-origin HMS 80:20 discussed at $371-372/t CFR, shredded scrap near $391/t CFR, and UK-origin HMS 80:20 around $363/t CFR. Overall, tradable values for high grade HMS were largely pegged in the range of $370-372/t CFR, reflecting firmer market sentiment.”

Seller optimism strengthened amid continued supply tightness, with expectations that US domestic scrap prices may rise by $20-30/t in January, further underpinning import values.

Another market participants stated that ” US West Coast supplier reportedly sold a cargo to Toscelik at around $372/t CFR. Despite higher freight costs, mills have shown increased interest in West Coast cargoes since November due to weaker demand from India and Bangladesh. A UK supplier reportedly concluded a deal near $363/t CFR. Sellers remained confident amid tight availability, expecting prices to edge higher in the near term.

Domestic market updates

Turkey’s domestic scrap market started 2026 on a firmer note, with major steel producers raising lira-denominated scrap purchase prices amid restocking activity and continued depreciation of the Turkish lira.

Colakoglu increased DKP and extra-grade prices by TRY 250/t, while Asil Celik, Erdemir and Kroman also revised prices upward.

However, downstream conditions remained mixed, as weak rebar demand restrained aggressive buying. Turkey consumes over 25 million mt of scrap annually, while ferrous scrap imports declined 7% y-o-y in the first eleven months of 2025.

Outlook

Some upward movement in Turkish deep-sea scrap prices is expected in the near term, supported by tight supply, bullish exporter sentiment, and higher domestic scrap prices. However, weak finished steel demand and cautious mill procurement may cap sharper price gains in the short term.