The Turkish scrap market is exhibiting steady strength and has maintained its HMS 1/2 80:20 price level of around $370/t CFR today, which is higher than the April 2025 levels for Turkey. This stability persists despite weak rebar demand and lower building activity in Turkey. The ongoing tightness of scrap, combined with the high shipping costs for beverage shipments to Turkey from the US and Europe earlier this week, continues to bolster market sentiment. Mills are actively trying to procure scrap to fulfill their January and early February orders; however, they are limited in their ability to procure scrap due to the shortened December buying period and, therefore, are in a better position than previously due to limited margins.

Looking forward, the overall outlook is cautiously optimistic. With the price of scrap being stable at $370/t CFR, along with continued supply-side constraints and the current cycle of re-stocking, the scrap market will likely continue to maintain a solid buying level. While it is unlikely that mills will be aggressive in their scrap purchase as a result of the overall slow rebar sales and uncertainty around demand, if the mills do return actively to purchase scrap for January shipments, we will continue to see strong market support, primarily as a result of tight supply and consistent import interest, thus the potential for upwards pricing remains likely.