Some Turkish mills increase domestic scrap prices

Over the past week, some Turkish producers have increased their domestic scrap prices. The Turkish lira has closed the current week at 30.83 against the US dollar and some Turkish mills will take this into consideration when determining their domestic scrap purchase prices. Local scrap prices have increased by TRY 150-475/mt or $3-14/mt. This rise was softer than those announced in previous weeks. Other Turkish producers have kept their prices stable, with their dollar-based prices declining by $1-2/mt. In the current week, deep sea scrap quotations declined at a faster pace, while Turkish mills have showed more interest in short sea scrap. Under the current circumstances, domestic scrap prices may increase in the coming days.

The general range in the local Turkish scrap market for the benchmark DKP grade scrap has increased on the upper end from TRY 11,200-13,150/mt to TRY 12,200-13,250/mt. Dollar-based prices are now at $396-430/mt, from $398-429/mt previously.

All above prices are for deliveries to customer and exclude VAT. Exchange rate fluctuations are taken into consideration when calculating the dollar-based price changes.

$1 = TRY 30.83