International Steel City Daily: Türkiye’s Scrap Import Price Continues To Rise; Rebar Quotation Remains Firm

In November, the scrap import price of Türkiye rose significantly. Last Friday (November 10), Mysteel heard that two exports of heavy waste HMS 1&2 80:20 resources from the West Coast of the United States were sold to steel mills in southwest Türkiye at a price of 379-379.5 dollars/ton CFR. According to Mysteel’s understanding, the export price of the US/Baltic HMS 1&280:20 is mainly about 379-380 US dollars/ton CFR Türkiye, up about 14 US dollars/ton from the end of October. Mysteel also heard that last week, the transaction price of heavy waste HMS 1&2 80:20 in Europe was $373/ton CFR Marmara, and the transaction price of alloy scrap steel was $393/ton CFR Marmara.
In addition, some scrap steel suppliers in offshore areas have also raised their prices. It is reported that due to Romanian suppliers believing that the previous quotation was much lower than the market price, they are currently attempting to adjust the minimum quotation to 360 US dollars per ton of CFR.
While the import price of raw materials continues to rise, Türkiye’s rebar exporters continue to raise their prices despite the sluggish demand. A certain Malmara steel plant currently offers a FOB price of 590 US dollars per ton for threaded steel, while another steel plant offers a FOB price of 580-590 US dollars per ton, an increase of 5-15 US dollars per ton compared to the end of October. It is understood that after some steel mills adjusted the domestic and export prices of deformed steel bars to $580/ton EXW/FOB, demand was very sluggish. But currently, most exporters are still unwilling to sell at prices below $580 per ton FOB.
In terms of transaction, due to the scarcity of orders, a certain Iskenderun steel plant has stated that if the order quantity is 10000 tons, it will consider reducing the price to 570-575 USD/ton FOB. The steel plant is currently mainly focused on the domestic market, and a transaction was made to Latin America at the beginning of the month at a price of 575 USD/ton FOB.
According to Mysteel’s analysis, although the import price of scrap steel in Türkiye rose again, most of the importers have completed the purchase before. At present, the demand for scrap steel is weak. It is expected to wait and see low price resources in the short term, and in the case of high raw material prices, it is expected that the export price of rebar in Türkiye will remain high in the short term.