Published by:Cem Turken<>
8 Apr 2025 @ 15:58 UTC

Turkish steelmakers remained cautious about deep-sea scrap purchases due to limited finished steel sales, despite increased need for May cargoes, sources told Fastmarkets on Tuesday April 8.

The mills in Turkey were inactive in the deep-sea scrap import markets due to holiday periods and political unrest in the country since March 28, when the most recent cargo deal was heard.
A steel mill in the Marmara region had booked a US cargo of heavy melting scrap (HMS) 1&2 (90:10) at $387.50 per tonne and plate and structural scrap at $402.50 per tonne CFR.
Turkish steel mills have secured 27 cargo deals for April shipping so far, according to Fastmarkets data, meeting market projections of 23-28 cargoes for the month.
Although the mills will require a comparable number of cargoes for May shipments, they remained out of the market due to low steel sales.
The steel and scrap markets are currently very quiet. Mills are trying to maintain stable steel offers despite low demand. They have booked enough scrap for April, but they should start booking for May soon. I expect to start hearing about May transactions next week, a Turkish mill source said.
The steel mills in the Izmir region were offering rebar to the local market at $560-570 per tonne ex-works, before the local sales tax. This is around 25,540-25,995 lira per tonne ex-works, including 20% value-added tax.
Steelmakers in the Marmara region were offering the material at $590 per tonne levels, according to sources.
Fastmarkets’ weekly price assessment forsteel reinforcing bar (rebar), domestic, exw Turkeywas 25,700-27,000 lira per tonne on Thursday April 3, unchanged week on week.
Lack of fresh trading activity in the deep-sea markets left daily scrap indices unchanged on Tuesday April 8.
Fastmarkets’ daily index forsteel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkeywas calculated at $382.11 per tonne on Tuesday, flat since March 31.
The corresponding index forsteel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkeywas calculated at $375.05 per tonne on April 8, also stable day on day, leaving the premium for US scrap over European material at $7.06 per tonne.