Turkish steel mills are facing the quake, causing scrap prices to decreased this week and demand for steel to stagnate. Scrap import prices amounted to approximately 415-418 USD/ton CFR. Last week, prices were $425 per ton of CFR.
Turkish rebar export prices amounted to 710-720 USD per ton FOB and wire rod export offers amounted to 730-740 USD per ton FOB.
Many steel mills in the earthquake-affected areas of Turkey faced a lack of manpower and logistical challenges. An estimated 4 million tonnes of rebar will be needed to rebuild the cities affected by the earthquake.
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