- Turkiye resumes buying but weak rebar sales limits appetite
- Import prices drop w-o-w in Bangladesh on weak steel demand
US ferrous scrap export prices were rangebound this week, with a marginal decline of $1/t w-o-w, as sluggish demand from key importing regions kept trade activity subdued. Buyers in Turkiye, Vietnam, and Bangladesh remained cautious, citing poor steel sales, liquidity concerns, and sufficient inventories.
In the domestic market, August-delivered prices across most grades in the Midwest and Southeast stayed flat for the third consecutive month, as weak flat steel demand was offset by a modest recovery in long product prices.
FOB assessments (US East Coast, bulk)
- HMS 80:20 – $319/t, down by $1/t w-o-w.
- Shredded – $339/t, down by $1/t w-o-w.
US-origin HMS 80:20, bulk – CFR assessments
- Turkiye –up by $1/t w-o-w at $347/t.
- Vietnam – down by $2/t w-o-w at $330/t.
- Bangladesh – stable w-o-w at $353/t.
Updates on key importers
Turkiye: Turkiye’s deep-sea scrap market held largely stable. Mills resumed September-shipment bookings after a brief pause, encouraged by a lack of billet competition from Asia and slight improvements in domestic steel demand.
Factors shaping Turkish scrap demand
- US-origin offers heard at $345-350/t CFR, but buying interest remains limited
- European summer lull and weak rebar sales keep mills cautious
- Supportive cues from China and EU ahead of CBAM deadline boosts sentiment
Despite limited billet availability and slight demand uptick, Turkish mills stayed cautious amid weak rebar sales and thin export orders, delaying any aggressive scrap bookings.
Bangladesh: Bangladesh’s imported scrap market stayed under pressure as prices dropped w-o-w amid weak steel demand, delayed payments, and monsoon disruptions. Poor liquidity restricted construction and bulk bookings.
Traders noted mills remain cautious due to cash flow issues. A meaningful recovery is unlikely before March 2026, when a new government may clear dues and restart infrastructure projects.
Vietnam: Imported scrap prices in Vietnam fell by w-o-w, Most September shipments have already been booked, and fresh buying remains slow as mills await clearer signals from the finished steel market.
Outlook
With demand from major buyers still weak and no immediate drivers for recovery, US ferrous scrap export prices are expected to remain largely stable in the short term. Market participants across key destinations remain cautious as they monitor downstream steel trends, keeping volumes in check.
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