In deals closed late last week, Turkey’s import scrap market has moved up very slightly. This move was expected by the market sources surveyed by SteelOrbis last week, who had indicated that Turkey’s price inquiries were accelerating as their purchases for August shipments have long way to go.
An Izmir-based producer is reported to have bought an ex-Netherlands deal with the HMS I/II 80:20 scrap price standing at $340/mt CFR. This price indicates a $4/mt rise for ex-EU/UK HMS I/II 80:20 scrap prices. The same buyer also concluded an ex-Denmark booking, market sources report, for HMS I/II 80:20 scrap at $343/mt CFR, moving the price for this grade up by $1.25/mt.
Turkish mills are taking steps to secure scrap quicker this month and are accepting slight price increases in each deal. “Buyers’ appetites are better as we start July. Sentiment is somewhat positive,” a seller said. Another said no significant increase is expected by any players, adding, “but there are inquiries from Turkish mills. The market is livelier as compared to early June.” After moving in the range of $339-340/mt CFR on average for a month, a slight and slow increase in deep sea scrap prices is likely. However, the fundamentals in Turkey’s steel market have remained unchanged. While steel demand is on the low side, official statistics show that Turkey’s exports in the first five months of 2025 totaled 8.1 million mt, higher year on year. At this pace, Turkey’s steel exports in 2025 are set to exceed 2024 levels. Having said that, sources sharing their opinion on the matter frequently mention it is not about tonnages but about the profitability of the sales. Fow now, the limited positive movement of Turkey’s deep sea scrap market is expected to continue.