Imported iron scrap prices in Turkey have fallen to their lowest level since June 2022, recording the lowest level in the past three years, with a decrease of $20 compared to last week.

 Prices have also fallen by $50 to $60 per ton since the beginning of the month, when they were around $380 per ton. Factories continued to purchase amidst oversupply and weakness in the steel market.

This decline was further reinforced by a sharp drop in rebar prices in the domestic market, prompting Turkish buyers to maintain pressure on scrap suppliers.

Despite some signs of improvement in demand for finished steel, the scrap market remains under pressure from oversupply, weak buying interest, and market caution.