The Future of Steel Sourcing: Combining Historical Pricing, Forecasts, and Market Intelligence

Turkey maintained its status as a primary pricing reference point for international ferrous scrap. Higher seaborne offers, paired with limited local availability of alternative metallic inputs like pig iron and billet, sustained mill interest in securing scrap cargoes.

While Turkish steelmakers were forced to raise purchase bids late in the month to secure feedstocks, scrap suppliers encountered clear boundaries on price escalation. The primary constraint stemmed from the conversion margin challenge, where steelmakers buying higher-cost scrap still had to process and roll rebar or billet at a price covering conversion, energy, and freight expenses. As finished-steel orders slowed, mills responded with selective buying, restricting purchases strictly to immediate production needs or delaying bookings to test supplier patience.

This tight link between feedstock costs and finished-steel realization explains why scrap strength was selective rather than uniform. Rather than a broad rally across all categories, price movements varied significantly across shredded, heavy melting, demolition, and stainless scrap based on local supply conditions, grade specs, and buyer requirements.

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Read More:

• Iron, Steel, and the Squeeze: 5 Hidden Forces Shaping Global Ferrous Markets Right Now
• Rethinking Global Steel Trade: 5 Factors Driving Iron Ore, Steel, and Scrap Dynamics

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