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Isdemir of Oyak Metallurgical Group, the largest steel SA724 Grade B steel mill in Türkiye, adjusted the local scrap purchase price on April 10 to respond to the continuous weakness of the imported scrap market.
According to its latest purchase SA724 Grade B steel price list, the local scrap steel purchase price for Isdemir's ordinary grade is reported as 13350 lira/ton (approximately 351 US dollars/ton), and the special grade scrap steel is reported as 13300 lira/ton, both of which are reduced by 300 lira/ton, equivalent to about 8 US dollars/ton. This round of price adjustment is basically consistent with the recent weak trend of the import market. On April 10, Türkiye imported high quality remelted scrap (HMS 1/2 80:20) at a price of 366 US dollars/ton CFR, down 9 US dollars month on day.
Although the weakening of raw material costs is theoretically beneficial for steel mills to control costs, this round of adjustment also reflects to some extent the passive follow-up pressure brought about by the overall weak market demand. Due to the continuous decline in import prices, steel mills are unable to maintain high procurement levels in the short term in order to maintain procurement flexibility and local resource competitiveness, resulting in a downward shift in price focus.
Erdemir, which belongs to the Oyak Group, has not adjusted its quotation as of April 11th. The purchase prices for ordinary grade and special grade scrap steel remain at 13500 lira/ton and 13495 lira/ton, respectively. Among mainstream steel mills, Ç olako ğ lu's daily purchase price remained stable, with DKP grade and special grade scrap steel at 13755 lira/ton and 13230 lira/ton, respectively.
Data shows that Türkiye SA724 Grade B steel consumes more than 25 million tons of scrap annually, about a quarter of which comes from local resources. With the downward trend in import prices, steel mills are generally facing pressure on both raw materials and finished products, and may continue to maintain price caution in the short term.
