Another downward revision in local Turkish scrap market

Some Turkish mills have once again reduced their domestic scrap purchase prices as compared to the levels recorded on January 12, by a range of TRY 15-100/mt or $3-14/mt, depending on the buyer and the grade. The dollar-based quotations of other mills that kept their lira-based prices stable have remained unchanged for some grades, while they have decreased by $1/mt for other grades amid the change observed in the Turkish lira-US dollar exchange rate.

Since January 12, the general range in the local Turkish scrap market for the benchmark DKP grade scrap has decreased on the upper end from the range of TRY 3,150-3,625 to TRY 3,150-3,575/mt, while the dollar-based quotations have decreased from the range of $421-484/mt to $420-477/mt. Market sources state that local scrap flow is still strong, adding that the downward revisions have been made in line with the expectations of a decline in the deep sea and short sea scrap segments.

All above prices are for deliveries to customer and exclude VAT, 

$1 = TRY 7.50