Turkey’s local scrap prices increase, following import segment

Over the past week, most Turkish producers have announced increases of TRY 450-1,000/mt or $15-34/mt in their domestic scrap purchase prices. A few producers that kept their Turkish lira-based prices stable this week are now paying $1/mt less on US dollar basis for domestic scrap. The domestic scrap market in Turkey is basically following the trend of import scrap prices. Turkey’s deep sea scrap prices have surged by 7.2 percent this week. As a result, short sea scrap, domestic scrap and ship scrap prices have all increased as Turkish mills have been seeking to secure their needed tonnages.

While the general range in the local Turkish scrap market for the benchmark DKP grade scrap has moved up on the upper end from TRY 10,300-11,450/mt to TRY 10,300-12,200/mt, dollar-based quotations have increased from $356-396/mt to $356-421/mt.

All the above prices are for deliveries to customer and exclude VAT. Exchange rate fluctuations are taken into consideration when calculating the dollar-based price changes. *Since the domestic scrap purchase price of Koç Metalürji was not shared last week, the week-on-week price change for this producer is not included in the table.

$1 = TRY 28.97