Turkey, the world’s largest importer of ferrous scrap, exhibited a dynamic and somewhat contradictory market profile throughout May 2025. The market signaled both downward pressure and emerging signs of recovery, depending on the specific reference period. Price movements, sentiment shifts, and trade volumes all reflected this duality, making the month a key period of fluctuation and uncertainty for market participants.
📉 Early May Low: Market Hits Two-Year Bottom
At the start of the month, HMS 1/2 80:20 scrap prices plunged to $323/ton, their lowest level since early 2023. This decline was primarily driven by:
- Weak domestic rebar demand, leading mills to slow down scrap purchases.
- Oversupply from international markets, especially from the U.S. and Europe.
- Muted construction activity within Turkey, traditionally a strong driver of rebar consumption.
The price drop reflected widespread bearish sentiment across global ferrous markets at the time, echoing similar downturns in the U.S. and EU scrap markets.
📈 Late May Recovery: Rebound on Export Momentum
However, by late May, Turkey’s scrap market began to recover. Prices for HMS 1&2 80:20 rose to $346.8 per tonne CFR, marking a nearly 6% increase from the early-month lows.
This recovery was underpinned by:
- Stabilization in Turkish steel production, especially with improved export orders.
- Renewed import interest from regions like North Africa and the Middle East, which helped offset sluggish domestic demand.
- Expectations of summer restocking, with mills anticipating higher activity post-Ramadan.
🔍 What This Means
The Turkish market’s movement from a two-year low to a modest rebound within the same month reflects broader global uncertainty in the scrap and steel sectors. It also highlights Turkey’s critical role as a price-setting anchor in the global ferrous trade.
📊 Metalmetre Insight:
Staying ahead in such a turbulent market requires real-time intelligence and strategic adaptability. At Metalmetre, we track regional and global movements to help our partners make smarter decisions across the scrap supply chain.
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