Turkish domestic scrap price range stable for now

Turkish mills have followed diverse price strategies regarding their domestic scrap prices over the past two weeks. Some producers have decided to cut their purchase prices in this period by TRY 100-300/mt or $3-12/mt. On the other hand, some other producers have increased their domestic scrap prices by TRY  100-300/mt or $6-10/mt, particularly after the rises observed in the deep sea scrap segment this week. With the Turkish lira’s ongoing depreciation against the US dollar, the dollar-based prices of the Turkish producers which kept their lira-based quotations stable week on week have declined by $4-6/mt. It is believed that Turkish steelmakers may focus on domestic scrap purchases in the coming days considering their average scrap costs.

While the general range in the local Turkish scrap market for the benchmark DKP grade scrap is still at TRY 9,000-10,150/mt, dollar-based quotations have declined from $321-363/mt to $317-357/mt.

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 28.41