Scrap import prices steady as steel mills delay purchases

Turkey’s scrap import prices held steady this week at USD 345-347 per ton CFR, as local steel mills remained cautious with purchases amid sluggish finished steel sales.

Scrap suppliers resisted cutting prices, pointing to higher costs and USD/EUR volatility. However, weak demand for finished steel in both domestic and export markets, exacerbated by the European holiday season, led Turkish mills to delay restocking.

Finished steel export offers were also largely stable, with rebar quoted at USD 540-550 per ton FOB and wire rod at USD 555-565 per ton FOB.