Demand for import scrap in Turkey has remained stable over the past week, while overseas scrap suppliers have attempted to increase their prices. In the latest import scrap deal in Turkey heard by SteelOrbis, ex-Baltic HMS I/II 80:20 scrap prices were at $277/mt CFR, up $2/mt compared to the previous transactions. Some Baltic-based suppliers have started to give offers over $280/mt CFR.
Meanwhile, in the Turkish domestic finished steel market, buyers have mostly postponed their purchases until after the end-of-Ramadan holiday and so demand has remained sluggish. However, given the price upticks in recent scrap deals, rebar producers have been seeking to increase their prices, which were on a downward trend for a while. Turkish domestic rebar prices have risen slightly despite the fact that the Turkish lira has not recorded any significant weakening against the US dollar in a long time. On the other hand, demand for Turkish rebar in the export markets has failed to indicate any recovery.