Turkey’s domestic scrap market declines on upper end

Most Turkish mills have kept their domestic scrap procurement prices stable this week, while one blast furnace-based producer has decided to cut its quotations. The producer decided to cut its price by TRY 150/mt over the past week, resulting in a $2/mt fall on dollar-based prices. The Turkish lira has gained some strength against the US dollar this week, and the unchanged lira-based scrap purchase prices of most Turkish mills mean a $2/mt increase in dollar-based prices. The stalemate in Turkey’s import scrap market is causing a relatively soft sideways movement in the local scrap segment.

The general price range in the local Turkish scrap market for the benchmark DKP grade scrap has moved down on the upper end by TRY 150/mt to  TRY 11,800-13,300/mt in the local currency. Dollar-based prices are now at $366-413/mt instead of $364-415/mt before.

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 32.22