Türkiye's imported scrap market finishes the week with higher prices

The deep-sea ferrous scrap market of Türkiye ended the week with a firm upward trend. In a US-origin cargo sold to the Marmara region, the HMS 1&2 (80:20) price increased to $376/t CFR, while European-origin transactions also reflected stronger pricing. A Baltic-origin cargo to the Marmara region was concluded at $370/t CFR for HMS 1&2 (80:20), while a UK-origin cargo to the Mediterranean region was booked at $368/t CFR. In addition, two separate US-origin cargoes sold to the Mediterranean region were concluded at $375/t CFR for HMS 1&2 (80:20).

Transactions concluded throughout the week indicate that prices for US-origin scrap have recovered to the $375-376/t CFR range, while buyers also accepted higher price levels for European-origin cargoes compared to earlier in the week. Rising offer levels from suppliers, supported by constrained scrap availability, continued to underpin the market. However, Turkish steel producers maintained a cautious purchasing strategy, limiting bookings primarily to short-term requirements due to weak finished steel demand and compressed profit margins.