An overview of last week's scrap, billet and rebar market in Turkiye and China

Last week, the heavy scrap price in the Turkish scrap import market rose from $350 to $370 per ton CFR due to new deals. Japan's Class 2 heavy export scrap remained at $323 per ton FOB. The average price for imported heavy scrap in East Asia was stable at $373 per ton CFR last week. The Black Sea export billet rose to $475 per ton FOB. In the Chinese local market, the billet price reached $484 per ton EXW with a weekly price improvement of $6. The price of the imported billet to China decreased by 0.23% and was recorded at $425 per ton CFR. In the Southeast Asian import market, the billet price increased by $2 and reached $512 per ton CFR. Rebar in the Chinese market was stable and the export rebar price was quoted at $527 per ton FOB. The last price of rebar in the Shanghai Exchange also increased from $509 to $520. The Turkish export rebar price increased by $10 and was reported at $555 per ton FOB. In the Southeast Asian market, imported rebar remained unchanged at $535 per ton CFR.