The Price Of Imported Scrap Steel in Türkiye Remains High, And The Cost Is High. The Quotation Of Thread in Türkiye Is Firm

Recently, the price of imported scrap steel in Türkiye has remained stable at a high level. In the case of high prices of imported raw materials, although the overseas demand for rebar in Türkiye is sluggish, the quotation of some rebar in Türkiye is still relatively firm.
  A steel mill in Malay completed a transaction on Wednesday for US heavy waste resource HMS 1/2 (80:20) at a price of $390 per ton of CFR, with a shipping schedule from August to September. The quotation of HMS 1/2 (80:20) from Europe for heavy waste is about 388-390 dollars/ton CFR Türkiye. It is reported that recently, due to the slow terminal activity and the increased cost (currently, the cost of transporting scrap steel to the terminal in Europe is about 325-332 euros/ton), most European scrap exporters insist on quoting, and Türkiye’s scrap importers have a low bargaining space. At present, the transaction price is about 385-388 dollars/ton CFR. Some market participants in Türkiye said that the import price of scrap steel in the near future was far higher than expected, and that the price level was difficult to sustain, and said that under the current quotation level, the high quality heavy waste HMS 1/2 (80:20) resources with a price lower than 390 dollars/ton CFR would be considered.

  Supported by the price of raw materials, the export price of rebar in Türkiye is relatively stable in the near future. At present, the steel mill’s quotation is about 580-590 dollars/ton FOB, and the transaction price is about 580-590 dollars/ton FOB. A certain Malmara steel plant quoted $590/ton FOB or $600/ton EXW for 10000 tons of rebar. However,  the actual number of transactions at present is very small. A European trader said that the overall rebar price in Türkiye is currently too high, and the expected price is about 575 dollars/ton FOB, but the price received from Türkiye is about 590 dollars/ton FOB.