The price of imported scrap steel in Türkiye remains high, the cost is high, and the quotation of thread in Türkiye is firm

We have learned that the price of Türkiye's imported scrap steel has been stable recently, still at a high level. In the case of high prices of imported raw materials, although the overseas demand of Türkiye's rebar is sluggish, some rebar quotations in Türkiye are still relatively firm.

We have learned that a steel mill in Malay has completed a transaction for US heavy waste resource HMS 1/2 (80:20) on Wednesday, priced at $390 per ton of CFR, with a shipping schedule from August to September. The HCT780X steel quotation of HMS 1/2 (80:20) from Europe for heavy waste is about 388-390 dollars/ton CFR Türkiye. It is reported that recently, due to the slow terminal activity and the increased cost (currently, the cost of transporting scrap steel to the terminal in Europe is about 325-332 euros/ton), most European scrap exporters insist on quoting, and Türkiye's scrap importers have a low bargaining space. At present, the transaction price is about 385-388 dollars/ton CFR. Some market participants in Türkiye said that the import price of scrap steel in the near future was far higher than expected, and that the price level was difficult to sustain, and said that under the current quotation level, the high quality heavy waste HMS 1/2 (80:20) resources with a price lower than 390 dollars/ton CFR would be considered.

Supported by the price of raw materials, the export HCT780X steel price of rebar in Türkiye is relatively stable in the near future. At present, the steel mill's quotation is about 580-590 dollars/ton FOB, and the transaction price is about 580-590 dollars/ton FOB. A certain Malmara steel plant quoted $590/ton FOB or $600/ton EXW for 10000 tons of rebar. However, Mysteel learned that the actual number of transactions at present is very small. A European trader said that the overall rebar price in Türkiye is currently too high, and the expected price is about 575 dollars/ton FOB, but the price received from Türkiye is about 590 dollars/ton FOB.

Although the transaction is not good, we understand that Türkiye's HCT780X steel mills are not willing to sell at reduced prices