What is happening with imported scrap prices in Türkiye?

Imported scrap prices in Türkiye are struggling to recover. This is also having a negative impact on the prices of steel sheet and rebar in Türkiye's local market. Following the price cuts by sheet metal producers, it is rumored that price offers are being made even below the prices heard. While prices in the rebar market continue to remain flat, they are among the products that have entered a downward trend. The lack of demand in local and global markets and the shortage of scrap stocks had a very negative impact on the market.

Market representatives predict that prices will continue to fall or remain flat for a while. Unless there is a recovery in demand, price recovery continues to be postponed. While Europe is keeping scrap prices at low levels, the US market continues to resist lowering prices below the set price. According to expectations, the first two weeks of June are considered critical.

Hopes for a recovery may change not only for global markets but also for the local market to improve. Market participants expect a slight rebound in June, with a $10-15 drop in July and the first half of August and a $20-30 increase in the second half of August, with a possible increase in shipments in early September. US market participants have not yet given up the belief that the steel scrap price will try to hold. It is also rumored that the transition to higher prices is not far away due to material shortages.

Recent deals made by Turkish steel producers;

Deals from Europe to the Mediterranean region;

HMS 1/2 (80:20) scrap at $374 (shred at $399/mt) CFR Türkiye,

Deals from Europe to Marmara region;

HMS 1/2 (80:20) scrap from UK for $373,$373 (shred $393/mt) CFR Türkiye,

HMS 1/2 (80:20) scrap from UK for $375.50 (bonus $400.50) (June loading) CFR Türkiye,

HMS 1/2 (80:20) scrap from Belgium for $373 CFR Türkiye,

HMS 1/2 (80:20) scrap at $372 CFR Türkiye,

Deals from the USA to the Aegean region;

HMS 1/2 (80:20) scrap 380$ (shred 400$, bonus 400$) CFR Türkiye,

Deals from Europe to the Aegean region;

HMS 1/2 (80:20) scrap from the Netherlands for $372.50 CFR Türkiye.