According to GMK Center, scrap metal prices have increased in most regions since early May, driven by rising demand, export growth, and supply limitations. The Turkish market saw a recovery after a challenging April, with prices for HMS 1&2 80:20 reaching $346.8 per ton CFR, up nearly 6%. Sellers raised quotations due to limited supply from the US and EU, stable dock prices, and a firm euro supporting exports. However, weak domestic steel demand and geopolitical uncertainty continue to pressure the market.
In the European Union, scrap prices remained under strain, with German E3 scrap quotations falling 9.6% to €297.5 per ton, and Italian prices declining 3.1% to €315 per ton. A weak demand from European steelmakers and sluggish exports to Turkey and Asia have contributed to the downward trend. Some traders expect prices to stabilize in June as the Turkish market gains momentum.
Meanwhile, the US scrap market showed mixed signals, with prices rising modestly after a sharp April decline. The Chinese market recorded moderate growth, with domestic prices climbing 2.5%, driven by improving steel sector conditions and increased demand for finished products. Global traders remain cautiously optimistic about price movements in the coming weeks.
