Diverse trends in local Turkish scrap market

Since SteelOrbis’ report published on August 13, prices in the local Turkish scrap market have followed diverse trends. Some Turkish mills have decreased their domestic scrap purchase prices by TRY 50/mt or $1-2/mt, depending on grades. Meanwhile, some mills have decided to increase their prices for some prime grades by TRY 150/mt or $25/mt since August 13, as a result of the appreciation of the Turkish lira against the US dollar. On the other hand, other steelmakers have just kept their quotations stable, which resulted in a $5-9/mt rise in their dollar-based prices. The negative sentiment in the deep sea scrap segment is also impacting the local market, but the rises observed in some mills’ domestic scrap prices is interpreted as reflecting their willingness to procure prime grades domestically.

Despite the changes recorded, the general range in the local Turkish scrap market for the benchmark DKP grade scrap is still at TRY 3,670-4,430/mt, while the dollar-based quotations moved from $430-519/mt to $437-528/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 8.39