Scrap import offers rise as buyer resistance slows trade

Turkey’s scrap import market increased this week, as suppliers pushed for increased prices despite resistance from Turkish mills. Current scrap import offers are assessed at USD 340-350 per ton CFR, compared with USD 340-345 per ton CFR the previous week.

However, buying activity remained sluggish as Turkish mills adopted a cautious stance. Concerns over weak demand for finished steel limited expectations for further price gains, leading to a widening gap between bids and offers. This mismatch further dampened scrap trade activity.

On the finished steel export front, Turkish long steel prices saw a modest rise. Rebar export offers increased by USD 5 per ton over the week, now standing at USD 555-565 per ton FOB. Wire rod is offered at USD 575-585 per ton FOB.