Tag: Turkey

The situation in Turkey for procuring ferrous scrap for its steel industry is facing some difficult times. As obsolescent scrap flows start to abate in Northern Europe and the US with the onset of the winter and the holiday season, the price of buying scrap for this period is trending upward. The domestic market in the US is expected to rise in November, possibly in December, and definitely in January as the US melt rate shows no signs of lessening. In Europe, the main problem is supply as the Turkish mills have leaned on this region heavily over the last two months rather than sourcing enough higher priced US cargoes. The European suppliers can only sell what is convenient at this point without an increase in price.

During the first three quarters of 2026, finished steel imports from South Korea increased 50.8% compared with the same period in 2025. Imports from Vietnam increased 23.4%, imports from Turkey increased 49.5%, and imports from India increased 29.5%. Those are not marginal increases. They are substantial import surges, especially in a US market where apparent domestic consumption has bounced around but has not grown since 2017. More importantly, these import surges are arriving at lower average unit values (AUVs).

There has been renewed activity in the Turkish deep-sea export arena as buyers continue to fill in their September needs.

The total volume of raw steel produced by mills around the globe eased 2% in June, according to worldsteel.

The export market for scrap for Turkey has come back to life over the last week.

Monthly steel imports rose back above 2 million short tons (st) in May and June, further recovering from the historic lows seen late last year, according to recent Commerce data.

The scrap export market in both Europe and the US continued to decline after the activity of last week became confirmable.

The export market off the US East Coast has been largely inactive over the last two weeks.

The total volume of raw steel produced around the world fell 4% in April following the one-year high seen in March, per World Steel Association figures.

The export market on the North American East Coast has been firming after seeing a sale that climbed to $415.50 per metric ton (mt) CFR for HMS 85/15.

The Canadian International Trade Tribunal (CITT) determined oil country tubular goods (OCTG) sold by Tenaris S.A. and certain exporters from South Korea, Turkey, and the Philippines are subject to antidumping tariffs.  

Turkish steelmakers entered the scrap market after returning from the Ramadan holiday.

The bulk scrap export market into Turkey is starting to form after several weeks of inactivity.

Freight rates have remained high in the US and Northern Europe, and there has been little or no activity in the Mediterranean region since our last export update on March 10.

US rebar and wire rod prices rose month on month (m/m) alongside continued scrap increases, while merchant bar and structurals were unchanged.

The total amount of raw steel produced around the world slipped 3% from October to an estimated 140.1 million metric tons (mt) in November, according to World Steel Association (worldsteel) data. This marks the lowest monthly production rate since December 2023.

The export market in the Atlantic Basin has seen significant strengthening during Q4 as 2025 comes to a close. The strength has been mainly driven by Turkish buyers, but Italy has also been a contributor. 

Following four consecutive monthly declines, world crude steel output recovered 1% from September to October to an estimated 143.3 million metric tons (mt), according to the World Steel Association (worldsteel).

World crude steel output declined for the fourth-consecutive month in September, slipping 3% from August to an estimated 141.8 million metric tons (mt), according to the latest figures from the World Steel Association (worldsteel).

August marked the second-lowest monthly production rate this year, down 13% from the two-year high of 166.6 million mt in March.

World crude steel output declined for a second straight month in July, falling 2% from June to an estimated 150.1 million metric tons (mt), according to recent data published by the World Steel Association (worldsteel).

The total volume of raw steel produced around the globe fell by 5% from May to June, according to recent data published by the World Steel Association (worldsteel).

Freight rates have risen $30-$50 on transatlantic cargoes, depending on the final destination.

Global raw steel production dipped from March to April, according to the latest release from the World Steel Association.

Chinese export prices for longs were almost steady this week, while those for flats generally declined as producers cut prices to secure deals.

The US ferrous scrap market rise this year is showing signs of slowing down as US steelmakers adjust production in line with slower automotive production and sales. But President Trump's announcement of 25% auto tariffs could change things very fast.

The export situation from the US East Coast was interrupted last week after a political event in Turkey.

US sheet prices surge following tariff announcement

Turkish scrap prices showed little change week over week (w/w), with HMS 80:20 and shredded grades assessed at $343 per metric ton (mt) and $357/mt, respectively. Turkish scrap prices remained steady during the third week of 2025, with HMS 80:20 unchanged at $343/mt, while Shredded grades fell edged lower $5/mt to $357/mt based on confirmed […]

The US Department of Commerce is conducting annual administrative reviews of antidumping and countervailing duty (AD/CVD) orders on certain imports of steel pipe and tube.