Scrap import prices rise on improve steel market sentiment

Turkey’s scrap import prices strengthened this week, driven by improved market sentiment in the finished steel sector. Scrap import prices were assessed at USD 360-365 per ton CFR, up from USD 355-360 per ton CFR last week.

The increase in scrap import prices is attributed to improving overseas demand for Turkish steel products, particularly from European countries.

Turkish long steel export offers remain steady, with rebar export prices around USD 570-580 per ton FOB, and wire rod export prices ranging from USD 585-595 per ton FOB.