Diverse trends in Turkey’s local scrap market

Despite the sharp increase observed in the international scrap market over the past three days, diverse price trends have been seen in Turkey’s domestic scrap segment. Some steel producers have increased their prices by TRY 85-400/mt or $0-7/mt this week. Other mills made no new announcements, but their domestic scrap purchase prices have declined by $1-2/mt on US dollar basis week on week due to the depreciation of the Turkish lira against the dollar. The increases in the ship scrap and import scrap segments are expected to have an impact on local scrap prices in the coming week.

 The general range in the local Turkish scrap market for the benchmark DKP grade scrap has increased by TRY 100/mt on the upper end to TRY 14,600-17,150/mt. Due to the fluctuations observed in the exchange rate, the dollar-based quotations have changed from $331-387/mt to $328-386/mt.

All above prices are for deliveries to customers and exclude VAT. Exchange rate fluctuations are taken into consideration when calculating the dollar-based price changes.

$1 = TRY 44.46