Diverse trends in local Turkish scrap market

Since April 9, the local Turkish scrap market has witnessed diverse trends in terms of prices. Some Turkish mills have announced price increases for domestic scrap purchases in the range of TRY 60-70/mt or $10-12/mt, depending on the grade. Some mills have reduced their prices by TRY 60-150/mt or $4-16/mt in the same period, while other mills have kept their local currency prices stable with a $3/mt rise in their dollar prices as the Turkish lira has regained some strength against the US dollar.

Accordingly, the general range in the local Turkish scrap market for the benchmark DKP grade scrap has remained in the range of TRY 2,950-3,730/mt, while the dollar-based quotations have moved up from the range of $362-458/mt to $365-461/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 8.09