As of November 17, 2025, Turkey's HMS 1&2 (80:20) scrap price is at US$ 355/t CFR, after a period of slight but visible volatility through early to mid-November. After moving higher from US$ 349/t on October 31 to US$ 351/t on November 3, this price increase indicated that Turkish mills had returned to the market to restock after an extended period of caution in buying. Increased demand, coupled with limited supply from the US West Coast and European suppliers, continued to push prices to US$ 356/t on November 7, as mills competed for cargoes and inventory tightened across the supply chain. Prices backed off slightly to US$ 355/t by November 12. Traders reported that negotiations had slowed and mills had settled in with needs for bookings in the near term, yet production and demand for scrap and steel remained robust.

This shift emphasizes the dynamics of a restocking cycle, supply limitations, and changing market sentiment.  Turkish mills maintained a balance of cost inputs and operational needs, while tentatively buying and managing global scrap opportunities. Decreased import tonnages earlier, followed by stronger billet tonnages into the market, kept restocking approaches conservative, albeit flexible. Currency implications and freight assessment further complicated the uncertainty. Ultimately, the market settled into a steady but firm position by mid-November as mill demand remained steady, with the supply of international shipments remaining challenged.