Published by:Geoff Mattson<>
24 Jun 2025 @ 20:59 UTC

Another deep-sea ferrous scrap cargo was confirmed purchased from the US East Coast by a Turkish steelmaker on Tuesday, June 24, marking the third confirmed transaction this month amid subdued sentiment in Turkey’s steel markets. The latest cargo was priced at $345 per tonne CFR for heavy melting scrap No1 and No2 (80:20) and was purchased by a mill in the Iskenderun region. It matched the price level of another 80:20 cargo purchased on Friday, June 20, and followed a separate June 20 transaction involving HMS 1&2 (90:10) at $345 per tonne CFR, equivalent to $342 per tonne CFR for 80:20 due to the standard quality spread of $3 per tonne.
So far in June, three US East Coast cargoes have been confirmed purchased by Turkish buyers, compared with six cargoes booked during the corresponding period in May, reflecting a slower pace of deep-sea procurement this month.
Overall sentiment in Turkey’s steel sector remains cautious due to weak finished steel and billet demand, and ongoing macroeconomic challenges. Many mills are opting to limit meltshop operations rather than actively pursue new scrap bookings.
The market is very quiet this week. People in the market cannot see the near future clearly. Mills still need scrap, but they can choose to reduce production instead of purchasing raw materials. I think prices will remain sideways in the short term, a Turkish trading source said.