What happened in the Turkish import scrap market this week?

Import scrap prices, which have a major impact on Türkiye's supply of metals and other raw materials, fell this week. Imported scrap prices, which had been hovering around $421-422 in the past few weeks, remained flat in some of the connections made this week and dropped to $418-419 in others. The convergence of European and US scrap prices due to the freight problems and the winter period has not gone unnoticed in the last two weeks. During these weeks, when scrap prices fluctuated slightly, producers reflected temporary cost increases on current scrap prices and are currently on hold. Rebar prices have been hovering around $635/640, reflecting this situation in scrap.

The latest contacts made by Turkish steel producers this week were as follows;

Deals from the US to the Marmara region;

HMS (80:20) scrap at $419.5/t per tonne CFR Türkiye,

HMS (80:20) scrap at $422 per tonne CFR Türkiye,

HMS (90:10) scrap at $425 per tonne CFR Türkiye,

Deals from Europe to the Aegean region;

HMS (80:20) scrap at $419/t per tonne CFR Türkiye,

HMS (85:15) scrap at $421 per tonne CFR Türkiye,

Deals from Europe to the Mediterranean region;

HMS (80:20) scrap at $418/t per tonne CFR Türkiye,

Deals from Russia to the Black Sea region;

26K Full P&S scrap at $432 per tonne CFR Türkiye.