The global ferrous scrap market closed the week on a firmer tone, with several deep-sea transactions to Türkiye reported from different origins throughout the week, highlighting an upward movement in price levels. These deals indicated that the market was supported not only by expectations but also by tangible buying activity, while rising freight costs and ongoing geopolitical risks gradually pushed offer levels higher. In parallel, Turkish rebar producers continued to reflect higher raw material cost expectations in their sales prices.
Upward price attempts in the finished steel segment also emerged as an important factor supporting short-term scrap price expectations. In particular, persistent regional risks and freight costs stabilizing at elevated levels strengthened the view that scrap prices may continue to move upward in the near term. However, the current outlook suggests that the recent movement reflects a cost-driven adjustment rather than the beginning of a strong upward trend.
On the supply side, a clear divergence within the market structure continues to attract attention. While availability in obsolete grades appears increasingly comfortable, the same cannot be said for prime grades. This distinction is becoming increasingly important not only for the direction of April price levels but also for the broader internal balance of the scrap market itself.
Toward the end of the week, the overall market tone strengthened further, while freight rates remaining at elevated levels continued to keep the cost base supported. This has limited the downside room for scrap prices in the short term and suggests that the market is entering the coming week with cautious but upward-oriented expectations.
Based on deals concluded this week, deep-sea bookings from Europe and the Baltic region were reported at $395–396.5/t CFR Türkiye for HMS 1/2 80:20, while shredded and bonus grades were concluded at $415–418/t CFR Türkiye.
Comments
No comment yet.