Russian ferrous scrap prices rise as shipments to Turkey increase 33%

Russian port prices reach a three-month high

Ferrous scrap prices at Russia’s Baltic and Black Sea ports increased by $14 per tonne between late August and September 25, according to Translom indices cited by Kommersant. Baltic quotations reached $339 per tonne, while Black Sea prices rose to $325 per tonne. The 4–5% monthly increase took both benchmarks to their highest level since mid-June. Compared with the same period a year earlier, prices were 16–21% higher.

The increase followed firmer prices in Turkey, the world’s largest importer of ferrous scrap and a major destination for material shipped from European Russia. Translom said Turkish scrap prices had risen by $14 per tonne, or 4%, since late August to $394 per tonne CFR. BigMint placed imported scrap prices closer to $410 per tonne. Analysts attributed the movement to steady demand from steelmakers, restricted supply in external markets and higher freight costs.

Russian shipments gain despite lower Turkish imports

Russia exported 524,500 tonnes of ferrous scrap to Turkey in January–August 2026, an increase of 33% year on year, according to Turkish Statistical Institute data reported by SteelOrbis and cited by Kommersant. The gain contrasted with Turkey’s overall scrap imports, which fell 9.4% to 12.25 million tonnes during the same period. The figures indicate that Russian suppliers increased their position in the Turkish market even as the country purchased less material in total.

Translom chief executive Sergey Astakhov said a contract for US scrap at $402 per tonne CFR, up by $5–7 per tonne, had established a reference point for other suppliers. Prices in transactions with Baltic exporters rose more modestly, by $1–2 per tonne over one week. Turkey’s purchasing cycle for November had also begun, signalling continued interest from mills in securing raw material.

Black Sea constraints reshape raw-material demand

Logistical restrictions in the Black Sea have reduced the availability of steel semis from Russia, prompting Turkish producers to buy more scrap as an alternative feedstock, according to Astakhov. Boris Krasnozhenov, head of investment analysis at Alfa-Bank, also linked higher Turkish rebar export prices to a regional shortage of long products and semis. He said Supramax freight rates from Rotterdam to Turkey had risen to levels last recorded in December 2021. Higher coking coal prices could also support pig iron values.

The outlook nevertheless has clear limits. Turkish mills face competition from Chinese hot-rolled coil, while seasonal weakness in construction curbs domestic steel demand. Russia’s scrap collection is forecast by Translom to fall 11.6% in 2026 to about 14.5 million tonnes, an historic low that could restrict export availability. Maxim Shaposhnikov, adviser to the Industrial Code fund manager, expects Russian scrap exports to rise 10–15% year on year to 0.88–1.03 million tonnes as Turkey replaces some Russian billet purchases with scrap.

Quota leaves room, but supply remains the constraint

The projected export volume would be roughly half of Russia’s 2.2 million-tonne ferrous scrap export quota. Shipments within the quota are subject to a 5% duty, with a minimum charge of €15 per tonne. Exports above the quota face a duty of at least €290 per tonne, sharply reducing their commercial viability.

Although the quota provides nominal capacity for further growth, declining collection may prove more restrictive than regulation. The redirection of cargo away from the Black Sea toward Baltic ports is also supporting freight costs, while exporters must absorb the expense of using ports that remain open to shipments. Further price gains will depend on Turkish steel margins, competition from Chinese products and the ability of Russian collectors to supply export cargoes.