Another fall in dollar-based local Turkish scrap prices

Turkish mills are still following diverse strategies as regards their domestic scrap procurement prices, while the Turkish lira has continued its sharp fall against the major currencies, resulting in an overall decrease in dollar-based quotations. Some producers have increased their domestic scrap purchase prices today, December 17, by TRY 150-330/mt, with a $12-23/mt decrease in the dollar-equivalent prices. Other producers have mainly kept their prices stable in the local currency, resulting in a $29-36/mt decrease in their prices on dollar basis.

Still, the general range in the local Turkish scrap market for the benchmark DKP grade scrap is at TRY 5,700-7,050/mt, while on US dollar basis prices have been revised from $366-453/mt to $337-417/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 16.91