Prices in Turkey’s import scrap market have remained stable so far this week. As Turkish mills conclude deals for December and January shipments, there are not many offers in the market. Still, any serious offer finds a buyer quickly, market sources report. The uptrend which started during the week September 15-21 with HMS I/II 80:20 scrap at $331/mt CFR came to a halt during the week November 3-9 with average prices settling at $352/mt CFR. The last time this price was recorded in Turkey’s import scrap market was in April this year.
The ex-US scrap deal in question was done by an Izmir-based steel producer yesterday, November 17, for HMS I/II 80:20 scrap at $355.5/mt CFR and shredded scrap at $375.5/mt CFR. As a result, no change has been made in SteelOrbis’ reference prices for any supplier region.
While scrap collection prices in the supplier regions have remained relatively stable over the past week, with EU export yards still bidding at around €255-260/mt DAP, the first signs of a softening are reported by market players. Some sources believe that this is the first sign of the approach of the holiday season, while others still report that scrap flow to European export yards is still slow. Meanwhile, import billet is still not a good alternative for Turkish mills, not only due to the price but also due to CBAM which takes effect in January 2026. The ex-China billet reference price is at $425-430/mt FOB, up by $5/mt from last week. The main reason for the increase has been the rise in futures prices - rebar at Shanghai Futures Exchange increased by 1.64 percent and 0.46 percent on Monday and Tuesday, respectively. As for the fundamental supporting factors in China, there is the obvious decline in steel production amid some mills’ need to fulfil the annual targets, the slow demand, and the environmental inspections at mills.
Official rebar offers for cash payments in the Marmara and Izmir regions, including İçdaş's prices, have settled at $560-580/mt ex-works, remaining unchanged week on week, while acceptable prices are at $555-575/mt ex-works, also stable over the same period. The higher end still seems a bit difficult to achieve under the current market conditions. One trader SteelOrbis talked today said Marmara-based mills’ rebar prices may remain firm due to Izmir-based producers’ strategy of keeping their prices stable. “If Izmir rebar quotations decline a bit, we may see them selling towards the Marmara-region, exerting pressure on prices there,” he added. The transportation cost from Izmir to Istanbul is reported to be TRY 1,000/mt. On the other hand, rebar spot prices have opened the week with an increase of TRY 200/mt ($2-3/mt), with local 12 mm rebar prices in the spot market now in the range of TRY 28,200-29,000/mt ($555-571/mt) ex-warehouse, depending on the region, and with the exchange rate at $1 = TRY 42.33.