BIR: Global Ferrous Scrap Prices Decline on Softer Turkish Demand

Metal Recycling News  |  2026-07-13 05:58:15   |   By

Across Europe, Germany's steel mills continued to report steady scrap demand, although supply remained constrained.

Summary
  • Turkey drives price decline: Reduced scrap purchases by Turkey after Ramadan, amid weaker steel demand, lower rebar prices, and higher mill inventories, weighed heavily on global ferrous scrap prices in Q2 2026.
  • Regional market divergence: Northern European HMS 80/20 scrap prices fell about 7% in June, while Germany and the UK maintained relatively firm domestic demand despite weaker export conditions.
  • Mixed global outlook: The U.S. market remained supported by healthy steel demand, whereas Asian markets faced continued pressure from weaker steel consumption, lower scrap imports, and cautious buying.

SEATTLE (Scrap Monster): The global ferrous scrap market experienced a notable price decline during the second quarter of 2026 as Turkey, the world's largest scrap importer, reduced its purchasing activity, according to the latest quarterly report released by the Bureau of International Recycling (BIR).

The July 2026 World Mirror on Ferrous Metals highlights that Turkey's demand weakened following the Ramadan holiday due to reduced steel consumption, declining rebar prices, and higher mill inventories. This led to reduced import activity, causing downward pressure on international scrap prices.

In Northern Europe, exporters reported that HMS 80/20 scrap prices declined bthe y roughly 7% during June. The slowdown in Turkish buying resulted in redirection of shipments to alternative destinations such as Morocco and Spain.

Across Europe, Germany's steel mills continued to report steady scrap demand, although supply remained constrained. In the United Kingdom, domestic competition for scrap remained strong despite weaker export prices.

The U.S. market continued to benefit from healthy steel demand, although seasonal factors are expected to keep scrap price movements relatively stable during the coming months.

Asian markets remained under pressure. China's steel exports declined during the first five months of the year, while weak steel demand led to reduced scrap imports in India and Bangladesh. Also, Japanese buyers remained cautious due to elevated prices.