Throughout the week, scrap prices showed a steady recovery trend, supported by tightening supply and the market’s digestion of the effects of the Inward Processing Regime (IPR). Buyers and stockists of finished products, who have been operating with very low inventory levels for an extended period, returned to the market on Friday, boosting purchasing activity. This move indicates that the market is cautiously seeking a recovery after a prolonged period of stagnation.
Sub-suppliers also followed suit to revive the weak inflows of recent weeks, and this trend was reflected in the prices reaching Türkiye. Benchmarks from Benelux shipments moved to around $338–340/ton, while those from the US rose to $343–345/ton.
However, purchasing momentum slowed in the second half of the week, particularly from Tuesday onwards, as the pace of inventory replenishment weakened. This has raised questions about the sustainability of the recovery. Market participants are once again adopting a wait-and-see approach to see whether prices will find support.
While tightening supply is providing upward support for scrap prices, strong signals for a sustained recovery in demand have yet to emerge.
Based on this week’s confirmed bookings:
From Sweden to the Marmara region: HMS 80:20 at $342/mt, bonus grade at $362/mt CFR Türkiye.
From a U.S. supplier to the Marmara region: Shredded scrap at $365/mt, P&S at $362.5/mt CFR Türkiye.
From the same U.S. supplier to the Aegean region: Bonus, P&S, and shredded scrap all at $365/mt CFR Türkiye.
From a European supplier to the Mediterranean region: HMS 80:20 at $341.5/mt CFR Türkiye.
While prices show signs of recovery, the market remains cautious, with restocking activity limited and region-specific. A mild rebound in scrap pricing appears likely in the short term.
Comments
No comment yet.