A few Turkish mills raise domestic scrap procurement prices on lira basis

Since SteelOrbis’ report published on November 19, a few number Turkish producers have increased their domestic scrap purchase prices by TRY 250-500/mt or $16-39/mt. As the Turkish lira is still depreciating against the US dollar, the other mills that have kept their local scrap procurement prices stable have decreased their dollar-based prices by $5-7/mt. 

As a result, the general range in the local Turkish scrap market for the benchmark DKP grade scrap has increased on the upper end from TRY 4,440-5,430/mt to TRY 4,440-5,535/mt, while on US dollar basis prices have been revised down from $401-490/mt to $395-492/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 11.24