HMS 1&2 CFR Turkey prices have declined from approximately $347/t in July 2025 to about $341–$344/t by early September 2025, reflecting a subdued market with weak demand for finished steel and cautious buying sentiment. The Turkish mills have slowed down purchasing, with few order bookings observed in the last few months, citing cautious buyer sentiment and ongoing economic uncertainty.

The imports from India have remained minimal, as Indian mills prefer domestic scrap and DRI due to domestic availability and seasonal slowdown. However, India has also diversified there sourcing from other regions like the US and the UK to avoid dependency on a single region and to avoid any disruption due to any unavoidable issues.

Outlook

There is high anticipation that the prices will remain under downward pressure, unless supported by a turnaround in finished steel demand, stabilizing economic conditions, or global stimulus, none of which appear imminent. For India, interest in Turkish scrap imports is expected to remain limited, at least until domestic steel consumption and prices show meaningful improvement.